Quess Corp surges 18% on preferential share allotment to Amazon

The board has approved issue of 754,437 equity shares of the Company to Amazon.com for an aggregate amount of Rs 51 crore at an issue price of Rs 676 by way of a preferential allotment.

Shares of Quess Corp zoomed by 18 per cent to Rs 521 in intra-day trade on the BSE on Friday in noon deal after the company announced its board approved preferential issue of equity shares to Amazon.

“The board has approved issue of 754,437 equity shares of the Company to Amazon.com NV Investment Holdings LLC, a category Ill Foreign Portfolio Investor, for an aggregate amount of Rs 51 crore at an issue price of Rs 676 by way of a preferential allotment,” Quess Corp said in a regulatory filing. Post allotment, Amazon will hold 0.51 per cent of the