Quess Corp's Rs 680-crore OFS oversubscribed

Shares of Quess ended at Rs 857, down 6.2 per cent in secondary market trading on the BSE. About 850,000 shares reserved for retail investors will be auctioned on Friday.

The Rs 680-crore offer for sale (OFS) by Quess Corp saw five times more demand the shares on offer. Promoters Thomas Cook and Ajit Abraham Isaac offloaded about six per cent stake in the company through the OFS to comply with the 25 per cent minimum public shareholding norms. The base price for the 8.5-million share sale was fixed at Rs 800 apiece, however, most bids came at Rs 837.

Shares of Quess ended at Rs 857, down 6.2 per cent in secondary market trading on the BSE. About 850,000 shares reserved for retail investors will be auctioned on