Thomas Cook “Travels Smooth” on Quess Corp IPO

Yes, it is barely a day since Mahanagar Gas IPO is oversubscribed and the next IPO in the market has been announced. Yes, you heard it right, Quess Corp the Bangalore based subsidiary of Thomas Cook is coming with a Rs 400 crores IPO. On the news, the share price of the parent company as at 3.05 pm has surged by over 5 per cent. The shares of the company are trading at Rs 206.55.

Quess Corp, has fixed a price band of Rs 310 to Rs 317 per equity share of face value of Rs 10 each. Thomas Cook holds around 70 percent equity stake in Quess Corp.

The company plans to utilise the net proceeds for repayment of debt availed by the company, funding capital expenditure requirements of the company and its subsidiary, meeting working capital requirement, acquisitions and other strategic initiatives and general corporate purposes.

Quess Corp Limited (formerly known as Ikya Human Capital Solutions Limited), one of India’s leading integrated business services provider was established in 2007. Headquartered in Bengaluru, the company has over 120,000 employees with a pan-India presence of 47 offices across 26 cities as well as operations in North America, the Middle East and South East Asia and serves over 1300 customers. Quess Corp Limited’s presence spans across 4 segments, namely, global technology solutions, people and services, integrated facility management and Industrial Asset Management.