One of India’s leading business solutions providers, Quess Corp has announced the demerger of three-way diversified businesses.
The Board of Directors of Quess Corp Limited have approved a composite scheme of arrangement providing for the demerger of Quess Corp into three independent entities.
The demerger will ultimately result in three separate listed companies, namely:
- Quess Corp Ltd: Workforce Management (Remaining Company)
- Digitide Solutions Ltd: BPM solutions, Insurtech and HRO business (New Co.1)
- Bluspring Enterprises Ltd: Facility Management, Industrial Services and Investments (New Co.2)
Over the last decade, Quess Corp Ltd. has emerged as India’s leading business services provider, extending its footprint to 9 countries, with a substantial workforce of over 550,000 associates across four distinct business platforms.
These platforms deliver a superior customer experience, serving over 3,000 clients across diverse sectors. The platforms include Workforce Management, the largest staffing firm in India and among the top 5 globally, by headcount; Global Technology Solutions, among the leading domestic BPM and payroll services firms; Operating Asset Management, the largest facility management platform in India by the breadth of services offered; and Product-Led Businesses (foundit, the second-largest talent acquisition platform in India).
Commenting on the demerger, Chairman Quess Corp Ltd. Mr. Ajit Isaac said, “This is a landmark moment for Quess and is a transformational decision to create three separate entities. It helps the management to focus, develop capital allocation plans relevant to each business, and create value for our shareholders.”
“The decentralized structure at Quess has enabled a pathway for the three demerged entities to continue a culture of entrepreneurship, an employee-friendly workplace with customer centricity being at the core of our purpose”, Mr. Ajit Isaac added.
Overall, Quess has achieved scale in each platform and they are strategically, operationally, and financially positioned to become independent companies with a focus on growing in their chosen area. The three entities are ideally placed to capitalize on India’s growth trajectory as the country marches towards a $5 trillion economy.
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