Quess Corp Initiates Three-Way Demerger to Form Independent Entities

Quess Corp Limited has announced a three-way demerger of its diversified businesses. The decision, approved by the Board of Directors in a meeting held today, will result in the formation of three independent entities, each poised to leverage rapidly evolving opportunities in India's growth story.

The demerger plan entails the creation of three separate listed companies:

1. Quess Corp Ltd: Retaining the Workforce Management segment, this entity will continue to be the largest player in India, providing solutions for hiring, deploying staff, managing performance, and upskilling employees.

2. Digitide Solutions Ltd: Focused on BPM solutions, insurtech, and HRO business, this new entity aims to harness technology to enhance client productivity and ensure optimal efficiency in business processes.

3. Bluspring Enterprises Ltd: Primarily catering to facility management, security services, telecom infrastructure maintenance, and industrial services, this entity is positioned to capitalise on India's development trajectory and the emerging opportunities in the market.

The company has established itself as India's leading business services provider, operating across nine countries with a substantial workforce of over 550,000 associates. The demerger aims to simplify the corporate structure, enhance strategic clarity, and enable optimal capital allocation for each entity to pursue independent growth trajectories.

Chairman of Quess Corp Ltd., Mr. Ajit Isaac,said, "This is a landmark moment for Quess. It helps the management to focus, develop capital allocation plans relevant to each business, and create value for our shareholders."

"We are confident that this strategic initiative will benefit all shareholders and ensure that the management team gets the support to achieve the set-out goals from the demerger."Mr. Prem Watsa, CEO of Fairfax Financial Holdings Ltd ,said in statement.

Following the implementation of the scheme, shareholders can expect to receive an additional share in each of the new companies for every share they currently hold in Quess Corp. Ltd. The demerger process is projected to undergo regulatory clearance within a timeframe of 12 to 15 months.

As India aims for a $5 trillion economy, the demerged entities of Quess Corp are strategically positioned to benefit from the country's growth and generate value for shareholders while maintaining exceptional customer experiences across different sectors.