Thomas Cook (India) gains as arm plans IPO

The company's arm Quess Corp is planning to raise Rs 400 crore through IPO

Shares of Thomas Cook (India) extended gains for the second straight session up nearly 6% at Rs 218 on the Bombay Stock Exchange after the company said its subsidiary Quess Corp is planning to raise Rs 400 crore through an initial public offer (IPO).

Thomas Cook (India) owns nearly 70% stake in Bangalore-based human resource (HR) solutions provider Quess Corp.

Quess Corp has fixed the price band of Rs 310 to Rs 317 per share for its IPO. The issue will remain open from June 29 to July 1.

The stock opened at Rs 208 and touched a high of Rs 228. At 1:20pm, over 2.5 million shares were traded on both the stock exchanges.