02/19/2024
Quess Corp's board of directors has approved the demerger of the business services provider's diversified business verticals into three independent entities
Quess Corp shares have gained 48% in the past year, outperforming the benchmark Nifty, which has gained 23% in the same period.
Quess Corp shares soared 13% on the morning of February 19 after the company announced it would split into three separate entities with the aim of unlocking shareholder value.
On February 16, the company’s board of directors meeting reviewed and approved the spin-off plan.
The spin-off will create three separate public companies, Quess Corp, Digitide Solutions and Bluspring Enterprises. Quess' responsibilities for workforce management, business process management, insurtech and HR outsourcing will go to Digitide, while facilities management, industrial services and investments will go to Bluspring.
