Monday, 27 June 2016

Quess Corp Limited IPO opens on June 29

- Price Band of Rs. 310 – Rs. 317 per Equity Shareof Face Value of Rs. 10 each

 Bengaluru : Bangalore-based Quess Corp Limited, promoted by Ajit Isaac and Thomas Cook (India) Limited (TCIL) will launch its initial public offering, 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 IPO consists of a fresh issue of Equity Shares aggregating to Rs. 4,000 million. The Anchor Investor Bid/Issue Period shall be on June 28, 2016, i.e. one working day prior to the Bid/Issue Opening day.
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. 
The shares of Quess Corp Limited are proposed to be listed on the NSE and BSE. 
About Quess Corp Limited: 
Quess Corp Limited (formerly known as IKYA HUMAN CAPITAL SOLUTIONS LIMITED), one of India’s leading integrated business services provider was established in 2007. Headquartered in Bengaluru, the Company has over 120,000 employees with a pan-India presence of 47 offices across 26 cities as well as operations in North America, the Middle East and South East Asia and serves over 1300 customers. Quess Corp Limited’s presence pans across 4 segments namely, Global Technology Solutions, People & Services, Integrated Facility Management and Industrial Asset Management. 
Risk to Investors 
i. The 4 Book Running Lead Managers associated with this Issue have handled 23 public issues in the past three years, of which 9 issues closed below the issue price on listing date. 
ii. The average cost of acquisition of Equity Shares for our individual Promoter, Ajit Isaac, is Rs. 2.74 per Equity Share and for our corporate Promoter, Thomas Cook (India) Limited is Rs. 32.52 per Equity Share and the Issue Price at the upper end of the Price Band is Rs. 317.

1 comment: