The stock, which debuted at Rs 860, up 1.17 percent from the issue price, finally ended with a steep gain of 20.23 percent at Rs 1,021.95 on BSE.

The newly-listed stock saw a remarkable recovery from its intra-day low of Rs 805.90. For a brief duration, the stock slipped below its issue price.

During the day, it touched a high of Rs 1,032, up 21.41 percent.

At NSE, it zoomed 20.33 percent to Rs 1,022.85 at the close of trade.

The company commands a market valuation of Rs 1,747.20 crore. TeamLease also became the first company to cross the Rs 1,000 mark post listing this year.

On the volume front, 13.15 lakh shares of the company changed hands at BSE and over 54 lakh at NSE during the day.

Since the start of the year, the BSE Sensex has lost around 3,131.42 points, or 12 percent, and logged a weekly fall in five out of six weeks since then.

The IPO, which opened for subscription from February 2-4, was in the price band of Rs 785-850 per share.

This was the second IPO of 2016 after Precision Camshafts, which was subscribed 1.9 times.

TeamLease Services, which was established in 2002 with four offices, 20 clients and 40 employees, is now India's largest and foremost people supply chain company with eight regional offices and 1,200 employees, according to the company's website.

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