India-focused private equity fund manager Gaja Capital has partially exited India-based staffing services company TeamLease for INR1.65 billion (approximately US$25 million). Gaja sold 746,810 shares, representing a 4.37 percent stake, at INR2,210 (approximately US$33.58) per share on the Bombay Stock Exchange and the National Stock Exchange of India. Gaja invested in the company in 2009 and 2011 through Gaja Capital Fund I. Gaja retains a 4.11 percent stake in TeamLease after the transaction, which reportedly represents the fund manager’s third partial exit from the company since 2016.