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IPO of Quess Corp, a staffing solution company, a hit; oversubscribed 147 times

By   /  July 9, 2016  /  Comments Off on IPO of Quess Corp, a staffing solution company, a hit; oversubscribed 147 times

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Mumbai:  Banagalore based  Quess Corp, a staffing solution company, whose IPO was mega hit, will list on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 12 July 2016. The public offer was opened for subscription from June 29 to July 1 with a price band of Rs. 310– Rs. 317 per Equity Share of face value of Rs. 10 each. The total IPO size was Rs.4,000 million. The IPO of Quess Corp Limited, promoted by Ajit Isaac and Thomas Cook (India) Limited (TCIL), was oversubscribed 147 times.

Quess Corp Limited (formerly known as Ikya Human capital Solutions Limited) said in the statement that it plans to utilize the net proceeds of the Issue for repayment of debt availed by the company; funding capital expenditure requirements of the company and its subsidiary, MFXchange US, Inc.; funding incremental working capital requirement of the Company; acquisitions and other strategic initiatives and general corporate purposes.

Quess Corp Limited, one of India’s leading integrated business services provider was established in 2007. Headquartered in Bengaluru, the company has over 120,000 employees having a pan-India presence of 47 offices across 26 cities. The company has overseas operations in North America, the Middle East and South East Asia and serves over 1300 customers. Quess Corp Limited has four segments: Global Technology Solutions, People & Services, Integrated Facility Management and Industrial Asset Management.

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