Quess Corp IPO
Quess Corp is a leading integrated business services provider in India. The company offers comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services. As of 31 March 2016, Quess Corp’s clients included some of the world’s largest, reputable organizations, including 20 companies ranked in the 2015 Fortune Global 500 list.
The company categorizes its businesses in four broad segments:
Global Technology Solutions (GTS) – The segment provides IT staffing, IT product solutions and services in India, North America and South East Asia, under Magna Infotech, Brainhunter, Mindwire and MFX brands. The segment contributed 26.77% to Quess Corp’s revenues in FY2016.
People and Services (P&S) – The segment provides comprehensive staffing (excluding IT staffing) services and solutions including general staffing, recruitment and executive search, recruitment process outsourcing, as well as payroll, compliance and background verification services under IKYA and CoAchieve brands. The segment contributed 56.64% to Quess Corp’s revenues in FY2016.
Integrated Facility Management (IFM) – The segment provides integrated facility management solutions to corporates and other organizations such as hospitals and schools across India. It provides the entire range of facility management services including janitorial services, electro-mechanical services, pest control as well as food and hospitality services under Avon and Aravon brands. The segment accounted for 10.82% to the company’s topline in FY2016.
Industrial Asset Management (IAM) – The segment provides industrial operations and maintenance (O&M) services and related asset record maintenance services under Hofincons brand across various industries, including power, energy, oil and gas, chemicals and ferrous and non-ferrous metal industries. Quess Corp generated 5.61% of its revenues from the business in FY2016.[/vc_column_text][vc_tta_tabs][vc_tta_section title=”IPO Details” tab_id=”1458479750724-614c421f-343f8351-3bc05e46-bc94″][vc_column_text]
|Quess Corp IPO Date||29 June – 1 July 2016|
|Price Band||INR310 – 317 per share|
|Issue Size||INR400 crore|
|Face Value||INR10 per share|
|Minimum Bid||45 shares|
|Listing On||BSE, NSE|
|Total issue size||INR400 crore|
|Repayment of debt||INR50 crore|
|Funding capital expenditure of Quess Corp and MFX US||INR71.7 crore|
|Funding incremental working capital requirement of Quess Corp||INR159.9 crore|
|Acquisitions and other strategic initiatives||INR80 crore|
|General corporate purposes||Remaining amount|
|Name of shareholder||Equity Shares||Percentage (%)|
|Quess Corp’s consolidated financial performance (in INR crore)|
|Profit/(loss) after tax||6.2||12.0||17.8||67.2||88.5|
Quess Corp IPO Subscription Details
|Category||Shares offered||Subscription (No. of times)|
|Day 1||Day 2||Day 3|
Quess Corp IPO Allotment Status
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Listing Performance of Quess Corp IPO
IPO Closing Date: 1 July 2016
Finalisation of Basis of Allotment: 7 July 2016
Initiation of refunds: 8 July 2016
Transfer of shares to demat accounts: 11 July 2016
Listing Date: 12 July 2016
Listing Price on NSE: INR500 per share (57.7% return on IPO price)
Closing Price on NSE: INR503.1 per share (58.7% return on IPO price)