TeamLease Services Limited has executed an Optionally Convertible Debenture (OCD) Subscription Agreement with Ikigai Enablers Pte.

Ltd., a Singapore-based consulting firm specializing in HR and HR technology services.

The agreement facilitates an investment of Rs. 5 crore, aimed at supporting working capital needs.

Ikigai recorded a turnover of INR 23.36 crore in the last financial year, reflecting significant growth from INR 10.56 crore in 2022. Currently, TeamLease Digital Private Limited (TDPL) holds 80% of Ikigai's equity shares.

This strategic move aligns with TeamLease's efforts to enhance its operational capabilities and could foster synergies in HR tech, offering a positive outlook for future growth.

The investment is expected to be completed within 45 days.