Quess is separating it’s entire business into three independent entities.
- Quess Corp Ltd (Current Company): focusing on the core business of Workforce Management
- Digitide Solutions Ltd (New Company 1): BPM solutions, Insurtech and HRO business
- For FY23, this segment accounted for 14.49% of the total consolidated revenues of Quess
- Bluspring Enterprises Ltd (New Company 2): Facility Management, Industrial Services and Investments
- For FY23, this segment accounted for 18.27% of the total consolidated revenues of Quess
The rationale for the separation/ demerger as expected is mentioned to be –
- A separate, more focused approach towards each of the 3 businesses
- Value unlocking for the shareholders
- The two new companies would be separately listed. Existing shareholders of Quess will receive 1 new share of each of the two new companies against one share that they hold in Quess.