QUESS

shares plunged over 50% post-demerger

Shares of Quess Corp declined sharply on Tuesday, falling over 50 percent following the demerger of its two units Digitide Solutions and Bluspring Enterprises. The stock closed at Rs 296 on Tuesday, April ***** decline is a result of the company’s restructuring exercise and not indicative of any deterioration in business fundamentals. April 15 was the record date for the demerger, and investors holding shares as of that date will be allotted shares in the two newly formed entities, once regulatory processes are complete. The demerger, announced in February 2024 and cleared by the National Company Law Tribunal, aims to create three independent, focused businesses. The market value of Digitide and Bluspring will be known once the companies are listed in the coming weeks. The equity shares of the new companies will be listed on the two exchanges, National Stock Exchange and Bombay Stock Exchange, on grounds of the applicable regulations and necessary regulatory approvals.