QuEST IPO in six months

QuEST Global, a diversified engineering and manufacturing services provider, plans to raise capital through private placement of shares or an initial public offer in the next six months.

The company is likely to shed a "small stake" to raise money for expanding engineering facilities, Chief Marketing Officer of the Bangalore-headquartered firm Bejoy George told PTI.

"Engineering services will probably do an IPO (initial public offering) or private placement in the next six months or so. Manufacturing, we will decide later," George said.

He did not disclose the extent of dilution of stake by the promoters.

QuEST (Quality Engineering & Software Technologies Pvt Ltd) has three main lines of business -– engineering, manufacturing and a special economic zone near Belgaum in Karnataka.

Meanwhile, the formal launch of this SEZ near Belgaum by Civil Aviation Minister Praful Patel and Karnataka Chief Minister B S Yeddyurappa will take place on Saturday.