Thomas Cook India’s subsidiary, Quess Corp, saw a stellar opening on its first day at the Exchanges. Promoted by Ajit Isaac and Thomas Cook India, Quess Corp raised Rs 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 nine years. The shares began listing at Rs 500 per share, up by 58 per cent on NSE from its issue price of Rs 317 per share; listed at Rs 499 on BSE, a premium of 57.41 per cent over its issue price of Rs 317.
Madhavan Menon, chairman and managing director, Thomas Cook India, said, “We congratulate Ajit Isaac and his team at Quess Corp on their successful listing today. The overwhelming response on the listing day, post a record breaking, oversubscribed IPO speak highly of the 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.”
