Imagine owning one stock and suddenly finding yourself holding shares in three companies instead. That is exactly what is happening with Quess Corp. A leading business services provider, Quess Corp, is stepping into a new phase of growth. After securing the NCLT approval, the company has officially set the record date for its much anticipated business split. This will make Quess Corp transform into three distinct public entities.
Let’s take a look at what does this means for investors and stakeholders:
Quess Corp Demerger Breaking it down – The three new entities
The demerger will create three separately listed companies:
Quess Corp: The original entity will continue to operate in its existing business verticals.
Digitide Solutions: Focused on the fast-growing technology sector.
Bluspring Enterprises: Aimed at core business services and consulting.
Quess Corp Demerger: Key dates and shareholding structure
Talking of the key dates that shareholders should mark in their calendar – the record date for the demerger is April 15. Shareholders of Quess Corp will receive equity shares in the new entities as follows:
1 share of Digitide Solutions for every 1 share held in Quess Corp
1 share of Bluspring Enterprises for every 1 share held in Quess Corp
This means that if you own shares of Quess Corp, you will automatically become a shareholder in all three companies.
Quess Corp Demerger: Trading and market debut
According to the company’s exchange filing, both Digitide Solutions and Bluspring Enterprises are expected to start trading on BSE and NSE within two months, subject to regulatory approvals.
Quess Corp Demerger: New leadership teams
As commonly known by everyone, with a new corporate structure comes a fresh leadership team for each entity:
- Digitide Solutions
CEO: Gurmeet Chahal, a veteran with over 25 years in the North American technology sector.
CFO: Suraj Prasad, a finance expert with extensive experience across Fortune 500 and Indian listed companies.
- Bluspring Enterprises
CEO: Kamal Pal Hoda, previously the Group CFO of Quess Corp, now taking the lead at Bluspring.
CFO: Prapul Sridhar, an expert in corporate finance, now driving the financial strategy for Bluspring.
- Quess Corp (Parent Company)
CEO: Guruprasad Srinivasan, a founding team member with 18 years at Quess Corp.
CFO: Sushanth Pai, a financial leader with experience at Matrimony.com and global technology firms.
Quess Corp Stock performance
Quess Corp share price saw an intraday surge of nearly 3%, reaching a high of Rs 708.85 in today’s trading session. Over the past five days, the stock has climbed 3.5%, while in the last month, it has delivered a 16% return. However, looking at a broader trend, the stock has faced an 11% decline over six months, but gained 25% over the past year.
On a YTD basis, Quess Corp stock has seen a marginal 2% increase. The company currently holds a market capitalisation of Rs 10,060 crore, with its 52-week high at Rs 875 and 52-week low at Rs 519 per share.