Quess Corp shares jump 6% as NCLT clears demerger; rally 16% in 4 days

Shares of Quess Corp witnessed strong buying on Friday, surging as much as 6% after the workforce management company received green signal from the National Company Law Tribunal (NCLT) for its demerger. The Bangalore bench of the NCLT on March 4 approved the company's three-way demerger, allowing creation of three public listed entities. 

Boosted by the development, Quess Corp share price rallied 6.2% to hit an intraday high of ₹674.50 on the BSE. Early today, the smallcap stock opened 4.1% higher at ₹661.15 after ending 1% higher in the previous session. The stock has maintained uptrend for the last four days and surged nearly 16% since March 4.

At the time of reporting, Quess Corp shares were trading 2.1% higher at ₹648.25, with a market capitalisation of ₹9,645 crore. At the current level, the stock is down 26% from its 52-week high of ₹875 touched on September 23, 2024, while it has risen nearly 40% from its 52-week low of ₹464.40 hit on March 13, 2024.

The shares of Quess Corp trade higher than 5-day, 20-day, and 50-day moving averages, but lower than 100-day and 200-day moving averages. The stock has delivered positive return of 28% in the last one year, while it has seen a correction of nearly 20% in the past six months. In the calendar year 2025, the counter lost over 2%, while it has given flat return in the past one month.

NCLT approves 3-way demerger

In an exchange filing last evening, Quess Corp said that it received the approval of the composite scheme of arrangement for the demerger from NCLT, Bangalore Bench, on March 4, clearing road for the creation of three public listed entities.

In February last year, the country’s largest business services company had announced the decision to demerge its diversified businesses into three independent listed entities - Quess Corp (the remaining company), Digitide Solutions (Digitide) and Bluspring Enterprises (Bluspring).

“With this approval, the demerger plan is taking place as per schedule and the company has been meticulously preparing for this event,” the release noted.

The next steps include determining the record date and completion of share allotment to eligible shareholders, the listing of Digitide Solutions Ltd. and Bluspring Enterprises Ltd. on the stock exchanges.

Under the demerger, existing shareholders will receive one equity share in each resulting company for every share held in Quess Corp.

"The approval from the Hon’ble NCLT, Bengaluru Bench marks a major milestone in our journey to create three focused and independent listed entities. This move will improve operational efficiency, unlock shareholder value, and allow each entity to pursue its distinct growth strategy in an evolving business landscape," said Ajit Isaac, Chairman of Quess Corp Ltd.

As per the company, all three entities will have a greater strategic focus, with the ability to drive growth and enhance overall performance in the coming years.

Post demerger, Quess Corp (remaining company) will continue to house India’s largest workforce management company with a headcount of over 5 lakh and a footprint across 9 countries. While Digitide Solutions will offer a comprehensive suite of solutions including BPM services, insurtech and HRO, Bluspring Enterprises will focus on infra services in the areas of facility management, food services, security services, industrial and telecom infrastructure maintenance.

Established in Bengaluru in 2007, Quess Corp is India’s leading business services provider, offering a host of managed outsourcing and technology-enabled services across processes such as sales and marketing, customer care, after-sales service, back office operations, staffing, manufacturing, facilities & security management, IT & mobility services etc. It has a team of over 6,16,000 employees, serving 3000+ clients across India, North America, APAC and the Middle East as on December 31, 2024.

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