Quess Corp IPO fuels rally in Thomas Cook; shares climb 4%

Shares of Thomas Cook (India) surged 4 per cent today after the travel firm-promoted Quess Corp announced its Rs 400 crore IPO, that will hit the market next week.
The stock jumped 4 per cent to settle at Rs 214.75 on BSE. During the day, it gained 10.36 per cent to Rs 227.90.
At NSE, shares of the company went up 3.67 per cent to settle at Rs 214.55.
In terms of volume, 5.36 lakh shares of the company were traded at BSE and over 27 lakh shares changed hands on NSE during the day.
The stock had gained nearly 6 per cent in the previous session also.

Bengaluru-based Quess has fixed price band of Rs 310-317 per equity share for its IPO hitting the capital market next week.

The integrated business services firm, promoted by Ajit Isaac and Thomas Cook (India), is expecting to raise Rs 400 crore through IPO to fund its businesses as well as pay off its debts.
The IPO opens on June 29, and closes on July 1 with a price band of Rs 310-317 per equity share having face value of Rs 10 each.
The IPO consists of a fresh issue of equity shares aggregating to Rs 400 crore.