Quess Corp share price jumps over 6% after NCLT approval for 3-way demerger; details here

Quess Corp share price continued witnessing healthy buying interest for the fourth consecutive session, as the stock jumped over 6 per cent in morning trade on BSE on Friday, March 7. The mid-cap stock opened at ₹661.15 against its previous close of ₹634.95 and jumped 6.23 per cent to the level of 674.50. Around 9:30 AM, the stock traded 5.05 per cent higher at ₹667. In these four sessions, the stock has jumped almost 16 per cent.

Quess Corp: NCLT approves 3-way demerger

Post market hours on March 6, Quess Corp announced NCLT’s approval for a three-way demerger.

“Quess Corp Limited, India’s largest business services company, has received the approval of the composite scheme of arrangement for the demerger from the Hon’ble National Company Law Tribunal (NCLT), Bangalore Bench, on the 4th of March, leading to the creation of three public listed entities,” said Quess Corp.

In February last year, the company announced the decision to demerge its diversified businesses into three different entities.

“With this approval, the demerger plan is taking place as per schedule, and the company has been meticulously preparing for this event. Following this, Quess Corp (Remaining Company) will continue to house India’s largest workforce management company with a headcount of over 5 lakh and a footprint across nine countries,” said Quess Corp.

After the three-way demerger, the resulting company, Digitide Solutions, will offer a comprehensive suite of solutions, including BPM Services, Insurtech, and HRO.

“With operations across 30 countries and delivery centres in Manila and India, it is well-positioned to capitalize on emerging BPM opportunities across diverse sectors. Digitide will leverage AI-driven technology to enable businesses to transform data into enterprise power and provide real-time insights, automation, and scalability,” said Quess Corp.

Bluspring Enterprises will be the resulting company two, which will be an infra services company operating primarily in the areas of facility management, food services, security services, and industrial and telecom infrastructure maintenance.

Additionally, an AI-driven white-collar job portal and candidate services platform—Foundit—will be part of Bluspring Enterprises, said Quess Corp.

“All three entities will have a greater strategic focus, with the ability to drive growth and enhance overall performance in the coming years. Upon demerger, all Quess Corp shareholders on the record date will receive one equity share in each of resulting company one and resulting company two for every equity share held in Quess Corp,” said the company.

Quess Corp share price trend

As of March 6 close, Quess Corp share price has gained 26 per cent. it hit a 52-week high of ₹875 on September 23 after hitting a 52-week low of ₹464.40 on March 13 last year.

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