Indian staffing firms Ikya, TeamLease pursuing IPOs - sources

Tue Jan 13, 2015 6:19am EST
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MUMBAI Jan 13 (Reuters) - Staffing firms Ikya Human Capital Solutions and TeamLease Services are looking to raise as much as $350 million in two separate listings, sources involved in both transactions told Reuters.

TeamLease, partly owned by ICICI Venture, has hired Credit Suisse, IDFC and ICICI Securities to manage an initial public offering (IPO) expected to raise $125 million to $150 million, four sources involved in the process said.

Meanwhile, Ikya, controlled by Canada's Fairfax Financial Holdings Ltd, is looking to raise $200 million but has yet to appoint banks, according to two sources.

Both companies are looking to complete the listing in the first half of 2015, added the sources, who declined to be identified because neither transaction has been made public

All the companies or banks involved either did not reply to emails seeking comments or declined to comment. (Reporting by Indulal PM and Abhishek Vishnoi; Editing by Rafael Nam)