Quess Corp Receives NCLT Approval for Three-Way Demerger, Paving Way for Three Independent Listed Entities
Mumbai: Quess Corp Limited, India’s largest business services company, has received approval from the National Company Law Tribunal (NCLT) for its proposed three-way demerger. The approval marks a significant milestone in the company’s journey to create three focused and independent listed entities.
The demerger will result in the creation of three separate companies: Quess Corp (Remaining Company), Digitide Solutions, and Bluspring Enterprises. Quess Corp will continue to house India’s largest workforce management company, while Digitide Solutions will offer BPM services, Insurtech, and HRO. Bluspring Enterprises will operate primarily in the areas of Facility Management, Food Services, Security Services, and Industrial and Telecom Infrastructure Maintenance.
Ajit Isaac, Chairman of Quess Corp Ltd., stated, “The approval from the Hon’ble NCLT marks a major milestone in our journey. This move will improve operational efficiency, unlock shareholder value, and allow each entity to pursue its distinct growth strategy.”
The next steps include determining the record date, completing share allotment to eligible shareholders, and listing Digitide Solutions Ltd. and Bluspring Enterprises Ltd. on the stock exchanges.
