New Delhi: Staffing firm Quess Corp. Ltd, which recently concluded its ₹ 400 crore initial public offering (IPO), will make stock market debut on Tuesday.
“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 Ltd said in a circular on Monday.
Quess Corp.’s IPO was oversubscribed a staggering 145 times earlier this month, emerging as the most oversubscribed IPO in the past nine years.
Promoted by Ajit Isaac and Thomas Cook (India) Ltd, Quess Corp’s IPO had a price band of ₹ 310–317 per equity share, having a face value of ₹ 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 information technology products and solutions.
Earlier this year, the IPO of diagnostics company Thyrocare Technologies Ltd was oversubscribed 73.46 times while staffing firm TeamLease Services’ offer was oversubscribed 66 times.