01-01-1970 12:00 AM | Source: Angel Broking Ltd
Update on stake acquisition by Quess Corp By Yash Gupta, Angel Broking Ltd
Below are Update on stake acquisition by Quess Corp By Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Quess corp limited acquired remaining stake in Conneqt Business Solutions Limited from Tata sons. Increase in equity stake in Conneqt Business Solutions Limited from 70.00% to 100.00% by Quess Corp Limited. Conneqt is India’s leading domestic CLM and BPM player with 21+ Delivery centers in India, and 29,000+ employees as on 31st Dec 2021. Its turnover stood at Rs 976 Crores in FY 2019-20.
The main object This Investment will provide Quess full and complete ownership over Conneqt, allowing it to better realize synergies between its various divisions, Conneqt and Allsec and It will strengthen Quess’ position to accelerate growth in the IT/ITES space.
This investment is completely a cash consideration of ₹208 Crores for a 30% stake from Tata Sons Private Limited.
This acquisition will make Conneqt Business Solutions Limited a 100% owned subsidiary of Quess corp limited.
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