TeamLease Services Limited has announced the completion of its exit from its joint venture company, Crystal HR and Security Solutions Private Limited. This follows the buyback of 1,200 equity shares by Crystal HR, extinguishing TeamLease’s remaining stake. As a result, Crystal HR is no longer a joint venture of TeamLease, effective September 21, 2026.
TeamLease Finalizes Crystal HR Joint Venture Exit
TeamLease Services Limited has officially confirmed the complete extinguishment of its stake in Crystal HR and Security Solutions Private Limited, marking the end of their joint venture. This development was announced on September 22, 2026.
Buyback Completes Divestment
The exit was finalized through a buyback process initiated by Crystal HR. The company accepted and extinguished 1,200 equity shares previously held by TeamLease. This transaction was effective as of September 21, 2026. Following this buyback, TeamLease’s shareholding in Crystal HR has been reduced to NIL.
End of Joint Venture Relationship
Consequently, Crystal HR will no longer be considered a joint venture entity of TeamLease Services Limited, effective from September 21, 2026. This marks the culmination of the divestment process that began with earlier intimations on July 29, 2026, followed by the execution of an exit agreement on August 13, 2026, and the initiation of the exit under the agreement on August 20, 2026.
Prior Disclosures
This announcement follows previous disclosures regarding the divestment of TeamLease’s entire stake in the joint venture company. The total stake divested was 30%, comprising 3,000 equity shares. The process involved the transfer of 1,800 equity shares to Ms. Srividya V, a promoter of Crystal HR, and the subsequent buyback of the remaining 1,200 shares.
Source: BSE
