The shares of India’s largest business services provider, jumped up to 6 percent on Friday after the company received approval for demerger from the Hon’ble National Company Law Tribunal (NCLT), Bangalore Bench,
Stock Performance
With a market capitalization of Rs 9,730.86 crore, Quess Corp Ltd surged 6 percent in Friday’s trading session and made a high of Rs 674.50 per share compared to its previous closing price of Rs 634.95 per share. The stock retraced from its day’s high and was trading at Rs 655 which is a 3 percent increase compared to the previous close.
What Happened
The company had announced the decision to demerge its diversified businesses into three different entities about a year ago in February 2024. Post demerger, all Quess Corp shareholders on the record date will receive one equity share in each of the resulting companies for every share held in Quess Corp.
The demerger will result in three separate public listed companies, namely:
Quess Corp Ltd: Workforce Management (Remaining Company)
Digitide Solutions Ltd: BPM solutions, Insurtech and HRO business (New Co.1)
Bluspring Enterprises Ltd: Facility Management, Industrial Services and Investments (New Co.2)
Quess Corp will retain India’s largest workforce management business, with over 5 lakh employees and operations in 9 countries.
Digitide Solutions will provide BPM services, Insurtech, and HRO across 30 countries, with delivery centers in Manila and India.
Bluspring Enterprises will focus on infra services, including facility, security, management, food services, and telecom infrastructure maintenance. It will also control foundit, an AI-driven white-collar job portal and candidate services platform.
Company Overview
Founded in Bengaluru in 2007, Quess Corp Limited is India’s leading business services provider. It enhances client productivity through outsourced solutions across staffing, customer care, sales, back-office operations, IT, facilities management, and more. Quess serves 3,000+ clients across India, North America, APAC, and the Middle East.
Financial Performance
Looking at the financials, the company reported a 14 percent YoY increase in sales from Rs 4,842 crore to Rs 5,519 crore in Q3 FY25. This was accompanied by a 19 percent growth in net profits of Rs 85 crore which stood at Rs 64 crore last year.
Ace Investor Holding
Renowned Indian ace investor Ashish Dhawan holds about 58.6 lakh equity shares, representing a 3.94 percent stake in the company.
Written by Shwetha Sairam
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