Thomas Cook India's Quess Corp debuts on the Exchanges at INR 500 - 58% premium on its listing price

Thomas Cook India Ltd, India's leading integrated travel and travel related financial services company's subsidiary, Quess Corp Ltd, saw a stellar opening on its first day at the Exchanges.

Promoted by Ajit Isaac and Thomas Cook (India) Ltd, Quess Corp raised INR 400 crore from its Initial Public Offer (IPO) which was open for subscription from June 29 to July 1, 2016. The IPO was oversubscribed 147 times earlier this month, emerging as the most oversubscribed IPO in the past 9 years. The shares began listing at INR 500 per share, up by an impressive 58 percent on NSE from its issue price of INR 317 per share; listed at INR 499 on BSE, a premium of 57.41 per cent over its issue price of INR 317.

Thomas Cook (India) Ltd. acquired Quess Corp (previously IKYA Human Capital Solutions Private Limited), in February 2013 by picking up a 74% stake in the human capital solutions company. Thomas Cook India holds 62.6 percent in the company post issue.

On the occasion, Mr. Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd, said, "We heartily congratulate Ajit Isaac and his team at Quess Corp on their hugely successful listing today. The overwhelming response on the listing day, post a record breaking, oversubscribed IPO speaks highly of the fantastic organisation and capabilities that Ajit and his Team have built over the years and is clear testament of the significant value that Quess embodies in the high performing sunrise opportunity that the Human Capital space represents."

Shares of THOMAS COOK (INDIA) LTD. was last trading in BSE at Rs.194.65 as compared to the previous close of Rs. 198.75. The total number of shares traded during the day was 58789 in over 1627 trades.

The stock hit an intraday high of Rs. 200 and intraday low of 194. The net turnover during the day was Rs. 11537169.

Source : Equity Bulls

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