TeamLease Digital invests in Singapore subsidiary via convertible debentures

TeamLease Services Limited announced its wholly-owned subsidiary, TeamLease Digital Private Limited (TDPL), has executed an Optionally Convertible Debenture (OCD) Subscription Agreement with TeamLease Digital Singapore Pte. Ltd. (TLD Singapore) on September 29, 2025. TLD Singapore, formerly Ikigai Enablers Pte. Ltd., is a Singapore-based boutique consulting firm specializing in HR and HR Technology services, incorporated in 2017.

The investment of 5 Crores rupees is intended to fund TLD Singapore's working capital requirements. TDPL currently holds 80% of the equity shares in TLD Singapore. The percentage of shareholding will depend on future conversion of the OCDs. The investment is expected to be completed within 45 days.

TLD Singapore reported unaudited group turnover of SGD 3,714,169 for January-December 2024. Its turnover for January-December 2023 was SGD 2,603,549, and for January-December 2022 was SGD 1,716,849. The transaction is not considered a related party transaction.