Ajcon Global has come out with its report on Quess Corp IPO. The research firm has recommended to "SUBSCRIBE" the IPO in its research report as on June 28 , 2016.
Quess Corp Limited (“Quess Corp”) was incorporated as IRIS Human Capital Solutions Private Limited on September 19, 2007 at Bengaluru, Karnataka as a private limited company. On May 14, 2013, the company was converted into a public limited company and the name of the company changed to IKYA Human Capital Solutions Limited. Thereafter, on December 4, 2014, the Company’s name changed to Quess Corp Limited. Quess Corp is one of India’s leading integrated business services providers (Source: F&S Report 2016) focused on emerging as the preferred partner for handling end-to-end business functions of its clients. Offering comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services. Service and product offerings include four broad operational segments: Global Technology Solutions (“GTS”), People and Services (“P&S”), Integrated Facility Management (“IFM”) and Industrial Asset Management (“IAM”).
At the upper end of the price band of Rs. 317, the IPO is valued at 45x at FY16 Post issue P/E which is at a premium owing to robust growth track record. With due consideration to factors like a) track record of successful inorganic growth with improved financial performance, b) improved operating efficiencies and margins through business cycles, c) robust recruitment capability; d) lean balance sheet with favorable Debt/Equity, strong ROEs, f) debtors Cycle at 45 days, we recommend investors to “SUBSCRIBE” the issue.