Quess Corp announces three-way demerger to create value for shareholders

Quess Corp announces three-way demerger to create value for shareholders

Quess Corp Ltd., a leading business services provider, has decided to split its diversified businesses into three separate listed entities, namely Quess Corp Ltd., Digitide Solutions Ltd., and Bluspring Enterprises Ltd. The company said that this move will help each entity to focus on its core area and unlock value for its shareholders.

Quess Corp Ltd.

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According to the exchange filing, the demerger scheme will result in the shareholders of Quess receiving one additional share in each of the new companies for every share they hold in Quess. The demerger is expected to take 12-15 months to complete, subject to regulatory approvals.

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Quess Corp will continue to operate in the workforce management segment, which includes staffing, recruitment, payroll, compliance, and training services. Digitide Solutions will comprise the business process management, insurtech and human resource outsourcing businesses, which offer digital transformation, customer experience, and insurance solutions. Bluspring Enterprises will include the facility management, industrial services, and investments businesses, which provide integrated facility management, engineering, and security services.
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The company said that the demerger will enable the management to develop capital allocation plans relevant to each business and create value for the shareholders. The company also said that all the businesses within the entity are now primed for expansion, with the goal of establishing themselves as an integrated operating asset management and investment company, characterised by both scale and valuation.

Source : NDTV profit

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