Quess Corp Limited, the largest business services company in India, has received approval from the National Company Law Tribunal (NCLT), Bangalore Bench, for its proposed three-way demerger. The decision was announced by the company yesterday.
The demerger, originally announced in February 2024, will result in the creation of three separate publicly listed entities. The current Quess Corp will continue to operate as a workforce management company in nine countries, with a workforce of over 500,000 employees.
Two new entities will be formed as a result of the demerger. Digitide Solutions will focus on BPM services, Insurtech, and HRO across 30 countries, while Bluspring Enterprises will handle infrastructure services such as facility management, food services, and security services. Bluspring will also include foundit, an AI-driven job portal.
Shareholders of Quess Corp will receive one equity share in each of the new companies for every share they hold in Quess Corp on the record date, which has yet to be determined.
Chairman of Quess Corp, Ajit Isaac, stated that the demerger will enhance operational efficiency, unlock shareholder value, and enable each entity to pursue its specific growth strategy.
The company will now proceed with determining the record date, completing share allotment, listing the new entities on stock exchanges, and establishing independent governance structures.
The news article was originally published on March 7, 2025.
