Quess Corp IPO to hit markets on June 29; price band at Rs 310-317

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New Delhi | Updated: June 22, 2016 2:16:40 PM

Quess Corp has fixed a price band of Rs 310-Rs 317 per equity share of face value of Rs 10 each.

Quess Corp IPOAfter Mahanagar Gas IPO, a public offer from a Bangalore-based company Quess Corp is going to hit Dalal Street this month.

After Mahanagar Gas IPO, a public offer from a Bangalore-based company Quess Corp is going to hit Dalal Street this month. The company, promoted by Ajit Isaac and Thomas Cook (India), will launch its initial public offering, on June 29, 2016. The issue will close on July 1, 2016.

Quess Corp has fixed a price band of Rs 310-Rs 317 per equity share of face value of Rs 10 each. The public offer consists of a fresh issue of equity shares aggregating to Rs 400 crore.

Also read: Mahanagar Gas IPO oversubscribed on Day 1, should you invest?

The objective of the issue is 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.

Axis Capital, ICICI Securities, IIFL Holdings and YES Securities (India) are the book running lead managers to the issue. The registrar to the issue is Link Intime India Private Limited.

The shares of the staffing services and business solutions provider are proposed to be listed on the NSE and BSE. This would be the second IPO by a human resource services company after staffing firm Team Lease.

Quess Corp was formerly known as IKYA Human Capital Solutions. It is one of India’s leading integrated business services provider was established in 2007. 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 1,300 customers.

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