Thomas Cook in the limelight

Thomas Cook is in the limelight today, thanks to its subsidiary, Quess Corp going public today. Its IPO opened today and is offering shares in the price band of Rs.310-317/share.

In Feb 2013, Thomas Cook had acquired 74% stake in the company for Rs. 256 crore, valuing it at Rs 346 crore. Upon listing, company is seeking valuation of approximately Rs. 4,000 crore.

Quess Corp provides recruitment, staffing, IT products and solutions, skill development, payroll and compliance management services, having 47 offices across India, in addition to overseas business in North America, Middle East and South East Asia, with international geographies contributing ~15% to current turnover. In our “New Issue Analysis” section we have provided a detailed analysis of this IPO and have recommended one to apply in this issue.

Thomas Cook is today quoting almost 2% higher at Rs.218 levels, with an intra day high at Rs.221. Its 52-week high stands at Rs.240.45.