Quess Corp jumps on NCLT approval for three-way demerger

Quess Corp rose 2.07% to Rs 648.10 after the company said it received an approval from the National Company Law Tribunal (NCLT) for its proposed three-way demerger.

The NCLT's Bangalore Bench approved the composite scheme of arrangement on 4 March 2025, paving the way for the demerger plan initially announced in February 2024.

The demerger will result in three separate entities: Quess Corp (remaining company), Digitide Solutions (resulting company-1) and Bluspring Enterprises (resulting company-2). Quess Corp shareholders will receive one equity share in both Digitide Solutions and Bluspring Enterprises for each share they currently hold in Quess Corp.

Quess Corp will continue to house Indias largest workforce management company with a headcount of over 5 lakh and a footprint across 9 countries.

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 in transforming data into enterprise power, provide real-time insights, automation, and scalability.

Bluspring Enterprises will be an infra services company operating primarily in the areas of facility management, food services, security services, industrial and telecom infrastructure maintenance. Additionally, foundit - an AI driven white-collar job portal and candidate services platform, will be part of Bluspring Enterprises.

The demerger aims to provide each entity with greater strategic focus and enhance their growth potential.

Quess Corp is India's leading business services provider. It provides a host of managed outsourcing and technology-enabled services across processes such as sales and marketing, customer care, after-sales service, back office operations, staffing, manufacturing, facilities & security management, HR & F&A operations, IT & mobility services, etc.

On a consolidated basis, net profit of Quess Corp rose 25.98% to Rs 80.49 crore while net sales rose 13.99% to Rs 5519.07 crore in Q3 December 2024 over Q3 December 2023.

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