Thomas Cook subsidiary issues 1500 NCDs
DSIJ Intelligence / 23 Jan 2017
The subsidiary of Thomas Cook India, Quess Corp which made its capital market debut last year, has once again raised capital by issuing non-convertible debentures (NCDs).
The subsidiary of Thomas Cook India, Quess Corp which made its capital market debut last year, has once again raised capital by issuing non-convertible debentures (NCDs).
The company has issued 1,500 NCDs with the face value of 10 lakh each to identified investors on a private placement basis. It also has raised upto Rs 150 crore, at a rate of 8.25 per cent per annum. The Credit Rating Agency of India (ICRA) has also given AA rating to these bonds. Such ICRA ratings are considered quite safe and it also means that these bonds carry low interest rate risk.
The stock price per earnings (P/E) stands at 93.18. In the last three months, the stock has outperformed Bombay Stock Exchange (BSE) mid-cap index.
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