(MENAFN Editorial) Bangalore, Karnataka, India
Leading business service provider, Quess Corp Limited, won the award for the ‘Best IPO' category at the IR Awards 2017. Organized by the Investor Relations Society of India in association with KPMG, BloombergandBSE, the IR Awards had acknowledged Quess Corp's for their promising IPO run.
Quess Corp Ltd. recognized as the Best IPO at IR Awards 2017
Quess Corp had debuted in the stock market in July 2016. The Initial public offer of the company was over subscribed 145 times and had received bids for over 1.4 million shares at the closing. The overall issue was covered 41% at the end of the first day and was subscribed 3.4 times on the second day. Quess Corp has not only received strong interest from retail investors but also from institutional investors.
Maintaining the momentum, the company witnessed a positive growth in the last fiscal. The revenue during 2016-17 stood at Rs. 4,157.4 crore as against Rs. 3,435 crore in the last financial year. Quess Corp is now planning to raise INR 1,000 crores from institutional investors to fund their expansion plans. This fresh equity will help the company to strengthen and expand their existing business offerings and also to venture into new businesses. The funds will also aid the conglomerate to expand their overseas footprint which contributes to about one-fifth of the revenue currently.
Quess Corp has also been bullish on acquisitions, having brought over sixteen companies in the last nine years. The company has acquired five brands since October 2016, the recent one being the buyout of the facility management and catering business of Manipal Integrated Services for Rs. 220 crore.
IR Awards has been instrumental in recognizing companies in the investor relations sphere since its inception in 2012. The objective of the awards to create awareness and lead the way for path-breaking practices within the IR community. This edition of the awards had twelve categories; open to both large and mid cap companies, with the aim of encouraging and rewarding them for their best practices in investor relations.
About Quess Corp Limited
Quess Corp Limited (BSE: 539978, NSE: QUESS), established in 2007, is India's leading integrated business services provider. Based out of Bengaluru, Quess today has a Pan-India presence with 65 offices across 34 cities along with overseas footprint in North America, the Middle East and South East Asia. It serves over 1700+ customers across 4 segments namely, Global Technology Solutions, People & Services, Integrated Facility Management and Industrials. In FY17, Quess generated revenues of INR 4,157 Crores and has over 159,200 employees. Quess has a Market Capital of over INR 10,000 Crores as on April 30, 2017.
For further details on Quess, please visit: http://www.quesscorp.com