Quess Corp shares jump 7% as board fixes record date for three-way demerger

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Quess Corp shares advanced 7.2 per cent in trade on Wednesday, April 2, 2025, logging an intraday high at ₹707.50 per share on BSE. The stock was in demand after the board fixed the record date for a three-way demerger of Quess Corp, Digitide Solutions, and Bluspring Enterprises. 

 

Around 10:29 AM, Quess Corp share price was up 2.9 per cent at ₹678.95 per share on BSE. In comparison, the BSE Sensex was up 0.54 per cent at 76,434.09. The market capitalisation of the company stood at ₹10,126.46 crore. The 52-week high of the stock was at ₹875 per share and the 52-week low was at ₹520 per share.

 

The board has set the record date as Tuesday, April 15, 2025, for the demerger. The shareholders of the demerged company will be entitled to receive fully paid-up equity shares of ₹10 each of Digitide Solutions Limited and Bluspring Enterprises Limited. 

 

Accordingly, 1 equity share of the face value of ₹10 each fully paid-up of Digitide Solutions shall be issued and allotted for every 1 equity share of face value of ₹10 each fully paid-up held by equity shareholders of the Quess Corp and 1 equity share of the face value of ₹10 each fully paid-up of the Bluspring Enterprises shall be issued and allotted for every 1 equity share of face value of ₹10each fully paid-up held by equity shareholders of Quess Corp. 

 

"The equity shares proposed to be allotted by the Resulting Company 1 (Digitide Solutions) and Resulting Company 2 (Bluspring Enterprises) are to be listed with the National Stock Exchange of India Limited and the BSE Limited subject to the applicable regulations and the necessary regulatory approvals," the filing read.

 

Quess Corp on February 16, 2024, announced that its board approved a composite scheme of arrangement, providing for the demerger of Quess Corp into three independent entities. The demerger will ultimately result in three separate listed companies, i.e. Quess Corp (the remaining company), Digitide Solutions (Digitide) and Bluspring Enterprises (Bluspring). 

 

In the past one year, Quess Corp shares have gained 28 per cent against Sensex's rise of 2.8 per cent.