Business services provider Quess Corp Ltd on Tuesday (March 4) said the National Company Law Tribunal (NCLT), Bengaluru Bench, has given it the go-ahead for a corporate restructuring exercise.”…the National Company Law Tribunal, Bengaluru Bench (NCLT) has today, March 4, 2025 pronounced the order approving and sanctioning the Composite Scheme of Arrangement between Quess Corp Limited, Digitide Solutions Limited (Digitide) and Bluspring Enterprises Limited (Bluspring) and their respective shareholders and creditors (Scheme),” Quess Corp said in a regulatory filing.
The scheme, which involves restructuring among the three entities, will be effective upon filing the certified copy of the NCLT order with the Registrar of Companies, Bengaluru, Karnataka. Quess Corp had earlier intimated the proceedings — on December 23, 2024, and January 7, 2025.
Also Read: Quess Corp shares remain choppy after Karnataka HC quashes ₹180 crore tax demand against unitLast year, Quess Corp announced a demerger of its existing business into three independent, listed entities. As per the demerger, the currently listed entity, Quess Corp, will focus on workforce management, the first demerged company, Digitide Solutions, will focus on insurtech and the HRO business, while the second demerged entity, Bluspring Enterprises, will focus on facility management and industrial services.
The scheme, which involves restructuring among the three entities, will be effective upon filing the certified copy of the NCLT order with the Registrar of Companies, Bengaluru, Karnataka. Quess Corp had earlier intimated the proceedings — on December 23, 2024, and January 7, 2025.
Also Read: Quess Corp shares remain choppy after Karnataka HC quashes ₹180 crore tax demand against unitLast year, Quess Corp announced a demerger of its existing business into three independent, listed entities. As per the demerger, the currently listed entity, Quess Corp, will focus on workforce management, the first demerged company, Digitide Solutions, will focus on insurtech and the HRO business, while the second demerged entity, Bluspring Enterprises, will focus on facility management and industrial services.
The shareholders of Quess Corp will get one share each of the two demerged companies for every share they own in the currently listed entity.
Quess Corp has highlighted an improved focus on creating pure-play verticals to help business positioning, a simplified corporate structure due to independent scaled platforms and an optimal capital allocation strategy as its rationale behind the demerger.
Also Read: Quess Corp projects muted fourth quarter as consumption slows
