Tuesday, June 28, 2016

Quess Corp plans to raise Rs.400 crore through IPO

Bengaluru-headquartered  Quess Corp Limited promoted by Ajit Isaac and Thomas Cook (India) Limited (TCIL) will launch its initial public offering (“IPO” or “Issue”), which opens on June 29, 2016 and closes on July 1, 2016, with a price band of Rs. 310 – Rs. 317 per Equity Share of face value of Rs. 10 each.

 The company plans to raise Rs.400 crore through fresh issue of shares.QCL offers business services, including recruitment, temporary staffing, technology staffing, IT products and solutions.

The Company proposes 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.

Axis Capital Limited, ICICI Securities Limited, IIFL Holdings Limited and YES Securities (India) Limited are the Book Running Lead Managers (“BRLMs”) to the Issue. The Registrar to the Issue is Link Intime India Private Limited.