Indian staffing firm Teamlease has reportedly lined up an initial public offering (IPO), with the intention of raising between INR 4.5 billion (USD 70.5 million) and INR 5 billion (USD 78.3 million), reports the Economic Times of India.

The staffing firm is one of three companies identified by the newspaper as preparing to launch an IPO, the others being low-cost airline IndiGo and online retailer Infibeam.

Requests for confirmation from the three companies by the Economic Times of India went unanswered.

After a prolonged lull, India’s IPO space has become very active, with over 30 companies lining up plans to raise funds. At least 20 of these firms have already received approval from market regulator Sebi to launch their respective IPOs; while draft IPO papers of five firms are currently "under process" but may be cleared soon.