Quess Corp inches up on getting nod to acquire 56% stake in Mfxchange Holdings
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Quess Corp is currently trading at Rs. 515.20, up by 0.90 points or 0.17% from its previous closing of Rs. 514.30 on the BSE.
The scrip opened at Rs. 520.40 and has touched a high and low of Rs. 520.40 and Rs. 512.75 respectively. So far 3254 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 529.00 on 20-Dec-2023 and a 52 week low of Rs. 337.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 529.00 and Rs. 482.45 respectively. The current market cap of the company is Rs. 7636.24 crore.
The promoters holding in the company stood at 56.67%, while Institutions and Non-Institutions held 27.12% and 16.20% respectively.
Quess Corp has received approval for the proposal of restructuring of overseas subsidiaries by way of acquisition of 56% stake in Mfxchange Holdings Inc., Canada (MFX), a wholly-owned step-down subsidiary of the Company from Quesscorp Holdings, Singapore, a wholly-owned subsidiary.
The proposed restructuring will result in simplification of structure of the company without any change in ultimate ownership of the company over the said subsidiary. Upon consummation of the aforesaid transactions, MFX would become a direct subsidiary of the company. The Board of Directors (Board) of the company at their meeting held on December 22, 2023, considered and approved the same.
Quess Corp is India’s leading business services provider and largest private-sector employer.
