Bangalore-headquartered staffing firm Quess Corp whose IPO was subscribed 144 times will list on BSE and NSE on July 12. The public offer was opened for subscription from June 29 to July 1.
The company will use the issue proceeds for repayment of debt availed by the company; funding capital expenditure requirements of the company and its subsidiary, MFX US; funding incremental working capital requirement of the company; acquisitions and other strategic initiatives and general corporate purposes.
Quess Corp garners 86 per cent of its revenues from India while the balance comes from its international business.
Axis Capital, ICICI Securities, IIFL Holdings and YES Securities (India) were the book running lead managers to the issue.
Over the last four years, the company has reported a strong revenue CAGR of around 52 per cent and net profit CAGR of around 94 per cent which was largely fuelled by its strategic business acquisitions and by strong growth across business verticals.