Quess Corp to make stock market debut tmrw

Staffing firm Quess Corp, which recently concluded its Rs 400-crore initial share sale offer, will make stock market debut tomorrow.
"Trading members of the exchange are hereby informed that effective from Tuesday, July 12, 2016, the equity shares of Quess Corp shall be listed and admitted to dealings in the list of 'B' Group of securities," BSE said in a circular today.
Quess Corp's IPO was oversubscribed a staggering 145 times earlier this month, emerging as the most oversubscribed IPO in the past 9 years.
Promoted by Ajit Isaac and Thomas Cook (India), Quess Corp's IPO had a price band of Rs 310-317 per equity share, having a face value of Rs 10 each.

The Bengaluru-headquartered company plans to use the proceeds towards incremental working capital, acquisitions and other strategic initiatives, debt repayment and other general corporate purposes.
Set up in 2007, Quess Corp offers comprehensive solutions including recruitment, temporary staffing, technology staffing as well as IT products and solutions.
Earlier this year, the IPO of diagnostics company Thyrocare Technologies was oversubscribed 73.46 times while staffing firm TeamLease Services' offer was oversubscribed 66 times.