Quess Corp to split into three independent listed companies
Quess Corp will split into three independent entities in what the business services provider said is a move aimed at unlocking shareholder value.
The demerger proposal was approved at the company’s board meeting on Friday.
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitThis will result in the separate listed companies of Quess Corp, Digitide Solutions and Bluspring Enterprises. They will handle workforce management (Quess), business process management, Insurtech and HR outsourcing (Digitide) and facility management, industrial services, and investments (Bluspring).
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-107763011»>
As per the demerger scheme, shareholders of Quess will receive one additional share in each of the new companies for every share they hold in the Bengaluru-headquartered company. The demerger is expected to take 12-15 months to achieve regulatory clearances, Quess said in a statement.
Quess has so far been operating under the four business verticals of workforce management, global technology solutions, operating asset management and product-led businesses.
«Overall, Quess has achieved scale in each platform, and they are strategically, operationally, and financially positioned to become independent companies with a focus on growing in their chosen area,» the company said. «The three entities are ideally
