Quess Corp settles at Rs 500

Quess Corp has finally settled in and has listed at a price of Rs 500 per share. In a rare gesture the company got itself listed 52 per cent higher than its issue price. The company on July 12, informed BSE in a press release: ‘’Trading members of the exchange are hereby informed that effective from Tuesday, July 12, 2016, the equity shares of Quess Corp shall be listed and admitted to dealings in the list of ‘B’ Group of securities.”

Quess Corp the Bangalore based subsidiary of Thomas Cook had come up with the IPO of Rs 400 crores. Quess Corp, had 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 will 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.