Quess Corp plans to raise Rs 400 cr via IPO

The company, promoted by Thomas Cook (India), fixed price band of Rs 310-Rs 317 per share; issue will remain open from June 29-July 1

Bangalore-based human resource (HR) solutions provider Quess Corp is planning to raise Rs 400 crore through an initial public offer (IPO). The company, promoted by Thomas Cook (India), has fixed the price band of Rs 310 to Rs 317 per share for its IPO. The issue will remain open from June 29 to July 1.

Quess Corp will use the IPO proceeds to for repayment of debt and for acquisitions and other strategic initiatives.

Shares of Thomas Cook, which owns nearly 70 per cent stake in Quess Corp, gained over 5 per cent on BSE on Wednesday.

Axis Capital, ICICI Securities, IIFL Holdings and YES Securities (India) are the book running lead managers to the issue. At least 75 per cent of the issue is reserved for institutional investors, 15 per cent for high networth individuals and 10 per cent for retail investors.