Thomas Cook surges 10% as subsidiary Quess Corp announces Rs 400-cr IPO

By: | Updated: June 22, 2016 3:58 PM

Thomas Cook shares surged 10 per cent on Wednesday after its Bangalore-based subsidiary Quess Corp announced that it will launch its initial public offering of Rs 400 crore.

Thomas Cook shares Thomas Cook shares surged 10 per cent on Wednesday after its Bangalore-based subsidiary Quess Corp announced that it will launch its initial public offering of Rs 400 crore.

Thomas Cook shares surged nearly 10 per cent intraday on Wednesday after its Bangalore-based subsidiary Quess Corp announced that it will launch its initial public offering of Rs 400 crore.

The share price of the company closed 5.82 per cent up at Rs 206.50. The scrip opened at Rs 200 and touched a high and low of Rs 214.45 and Rs 196.80, respectively, in trade. Sensex closed 47 points down at 26,765.

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

Quess Corp is promoted by Ajit Isaac and Thomas Cook (India) and 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.

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.

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