You are here » Home » Companies » Company Overview » Quess Corp Ltd

Quess Corp Ltd.

BSE: 539978 Sector: Others
NSE: QUESS ISIN Code: INE615P01015
BSE 14:30 | 17 Feb 586.25 -4.45
(-0.75%)
OPEN

591.00

HIGH

591.00

LOW

576.55

NSE 14:24 | 17 Feb 587.30 -3.45
(-0.58%)
OPEN

590.75

HIGH

592.45

LOW

577.05

OPEN 591.00
PREVIOUS CLOSE 590.70
VOLUME 7652
52-Week high 819.85
52-Week low 386.85
P/E 35.49
Mkt Cap.(Rs cr) 8,648
Buy Price 585.75
Buy Qty 1.00
Sell Price 586.70
Sell Qty 4.00
OPEN 591.00
CLOSE 590.70
VOLUME 7652
52-Week high 819.85
52-Week low 386.85
P/E 35.49
Mkt Cap.(Rs cr) 8,648
Buy Price 585.75
Buy Qty 1.00
Sell Price 586.70
Sell Qty 4.00

Quess Corp Ltd. (QUESS) - Company History

Quess Corp Ltd India's leading integrated business services provider was established in September 19th 2007. The company is engaged in the business of providing services in global technology solutions people and services integrated facility management industrials and Internet business. Headquartered in Bengaluru the company has a pan-India presence with 65 offices as well as operations in North America South America the Middle East and South East Asia. Quess serves over 1700+ clients worldwide. Quess Corp is promoted by Fairfax Financial Holdings through its Indian subsidiary Thomas Cook India Ltd (TCIL) and Mr. Ajit Isaac Chairman & MD.In 2008 Quess Corp acquired Avon Facility Management Services Ltd which helped it start a new line of business in the facility management space. In 2009 Quess Corp acquired Coachieve Solutions Private Limited a Human Resource Solutions company which expand Quess Corp' offerings into the HR solutions space. In 2010 Quess Corp ventured into the high-margin business of professional IT Staffing with the acquisition of Magna Infotech. In 2013 Quess Corp secured a strategic investment from Fairfax Financial Holdings. Fairfax invested in Quess through their Indian subsidiary Thomas Cook India Limited. In 2014 Quess Corp acquired Hofincons Infotech & Industrial Services ltd Bangalore to set up a new business segment in the Industrial Asset Management space. On 17 September 2014 Quess Corp signed a definitive agreement to acquire Brainhunter (Zylog Systems (Canada) Limited) subject to statutory and regulatory approvals. Brainhunter headquartered in Toronto (Canada) is a leading IT and Engineering professional firm employing about 700 professionals and with revenues of about USD 80 million.On 13 February 2015 Quess Corp announced the signing of a definitive agreement to acquire Aramark India Pvt Ltd (Aramark India) from Aramark subject to statutory and regulatory approvals. Based out of Mumbai Aramark India is a facility management company with niche offerings in hospitality and healthcare facility management. The company has operations in more than 80 sites pan-India and with a workforce of over 2500 employees spread across 9 states. Aramark India services several marquee clients many of whom are amongst India's leading conglomerates. This acquisition will strengthen Quess' position as a leading pan India facilities management player with an integrated service offering spanning soft and hard services pest control and catering.On 1 January 2016 Quess Corp Ltd. announced the completion of the acquisition of MFXchange holdings Inc (MFX) from Fairfax Financial Holdings Limited (Fairfax) with the purchase of the remaining 51% stake in the company pursuant to the terms of a share purchase agreement that was entered into Fairfax on 3 November 2014. Quess had earlier acquired a 49% stake in MFX from Fairfax in November 2014 under the Purchase Agreement. Based out of Morristown NJ (US) MFX is leading provider of hosted information technology applications and outsourcing solutions for the US commercial property and casualty insurance industry. The acquisition is expected to strengthen Quess' Global Technology Solutions business segment due to MFX's presence in the niche insurance focused IT Products and Solutions space in North America.Quess Corp Ltd undertook an initial public offer of equity shares and subsequently its equity shares were listed on the Bombay Stock Exchange (BSE) and National Stock Exchange on 12 July 2016.On 19 October 2016 Quess Corp announced that it has entered into a definitive agreement to acquire a 49% stake in Terrier Security Services (India) Private Limited (Terrier) marking its entry into the manned guarding and security solutions business. With a track record of over 27 years Terrier is among the leading providers of manned guarding services in India. In addition Terrier also provides training services for security personnel and electronic security solutions to clients.In 2017 Quess Corp expanded its geographical footprint by acquiring Comtel Solutions Pte. Ltd. - a market leader in IT Staffing in Singapore. Comtel is one of Singapore's largest independent staffing companies with services offered across staffing solutions managed services solutions and recruitment and search services with operations across Malaysia and Indonesia.During the financial year ended 31 March 2018 Quess Corp successfully closed its first Institutional Placement Programme (IPP) and rose about Rs 874 crore of stock and through this process added some marquee investors as its shareholders. The IPP was priced at Rs 800 per share.On 25 October 2017 Quess entered into an agreement to acquire 70% equity in Vedang Cellular Services Private Limited. Quess completed this acquisition for a consideration of Rs 40 crore on 10 November 2017. Vedang plans designs and optimizes telecom cell sites and also installs active components on cellular towers and their O&M. It is one of the largest players in the telecom network operations and maintenance space with strong industry relations superior service offerings and deep technical capabilities. On 20 November 2017 Quess entered into an agreement to acquire 51% stake in Conneqt Business Solutions Limited (formerly known as Tata Business Support Services). Quess paid Rs 153 crore cash consideration for this acquisition. The transaction was closed on 27 November 2017. Headquartered in Hyderabad Conneqt is among India's premier Customer Experience (CX) management companies with over ten years of sectoral expertise. On 30 Novembers 2017 National Company Law Tribunal (NCLT) approved the Scheme of Merger of the facilities management business of Manipal Integrated Services (MIS) into Quess Corp with effect from 1 December 2016. Pursuant to NCLT approval Quess issued 71.49 lakh equity shares to equity shareholders of MIS as part of the remaining consideration. This strategic acquisition gave Quess a strong foothold in the rapidly growing healthcare and education facility management space and helped Quess become a leading integrated facility management provider in the country. On 24 January 2018 Quess announced to acquire 90% stake in Greenpiece Landscapes India Private Limited for a cash consideration upto Rs 26 crore. This consideration was subject to adjustments based on future performances of the company. The transaction was closed on 8 May 2018. Greenpiece is a leading end-to-end design and landscaping services firm catering to marquee corporate industrial and real estate firms in India and abroad.On 31 January 2018 Quess announced to acquire 100% stake in Monster India and its business in South East Asia and the Middle East for a cash consideration of USD 14 million on a debt-free cash-free basis. The transaction was closed on 8 February 2018. Monster a leading online career and recruitment resource with its cutting-edge technology provides relevant profiles to employers and relevant jobs to jobseekers across industry verticals experience levels and geographies. On 31 January 2018 Quess announced to acquire 100% stake in HCL Computing Products Limited which further acquired Care Business of HCL Services Limited a subsidiary of HCL Infosystems Limited. The consideration was Rs 30 crore (on a debt-free cash-free basis) via a combination of primary and secondary payouts. The transaction was closed on 11 April 2018. Post-acquisition the acquired business has been re-branded as `DigiCare' to give it a distinct and unique corporate identity in the Consumer Services space. DigiCare is one of the leading after-sales service providers for product categories such as mobile phones consumer electronics and consumer durables in the customer lifecycle management space.The Board of Directors of Quess Corp Limited (Quess) at its meeting held on 23 April 2018 approved the Scheme of Arrangement whereby the Human Resource business of Thomas Cook (India) Limited (TCIL) along with TCIL's investment in Quess will be demerged to Quess through an NCLT process. This is subject to regulatory approvals. Pursuant to the scheme TCIL shareholders will receive 1889 equity shares of Quess (of Rs 10 each) for every 10000 equity shares (of Rs 1 each) held in TCIL. This arrangement will primarily lead to the overall public shareholding in Quess increasing from approximately 28% to 45% resulting in a more diverse shareholder base with higher liquidity for Quess shares in the capital market. Existing promoter of TCIL Fairbridge Capital Mauritius Limited would be classified as the promoter of Quess and this would further add strategic value for Quess going forward. Thomas Cook (India) Limited (TCIL) ceased to be the parent company and Fairfax Financial Holding Limited (FFHL) ceased to be the ultimate holding company of Quess Corp Limited with effect from 1 March 2018.