Bengaluru-based human resources firm Quess Corp will be launching its initial public offering (IPO) aimed at raising `400 crore on June 29.
Bengaluru-based human resources firm Quess Corp will be launching its initial public offering (IPO) aimed at raising `400 crore on June 29. The price band fixed for the issue is between `310 and `317 per share. Currently, Thomas Cook India is the corporate promoter of the company holding 70% shares of the company.
About 75% of the issue will be reserved for the qualified institutional buyers category, 15% for the non-institutional investors and 10% for retail investors. The issue will receive bids from anchor investors on June 28. The earnings per share as per FY16 earnings will be `95.9 and `98.9 on the upper end and lower end of the price band. The offer is a complete fresh issue and the company proposes to utilise the net proceeds for repayment of debt, funding capital expenditure and working capital requirements of the company and other general corporate purposes.