Quess Corp: Reinforcing Corporate Structure Simplification and Unlocking Value

For Quess, a strategic investment of Rs.4.5 crore for its total 53 per cent shareholding made between Oct-16 and Aug-18 has yielded an enterprise value of Rs.120 crore.

Quess Corp Ltd, India’s leading business services provider, announced today that it has entered into definitive agreements to divest its stake in the digital risk and compliance services company, Simpliance Technologies Private Limited to Aparajitha Corporate Services, a leading HR compliance services company and its affiliates. The deal is valued at an Enterprise Value of INR 120 crores, on a cash and debt-free basis, subject to closing adjustments and fulfilment of conditions set out in the transaction document.

Speaking on the occasion, Guruprasad Srinivasan, Executive Director and Group CEO, of Quess Corp, said, “In line with the Corporate structure simplification process and rationalization of business lines, we have divested our stake in Simpliance Technologies Private Limited. Quess helped the Simpliance team to build a comprehensive tech platform that provides total labour compliance solutions for digital India. While this has created great value for the Shareholders of Quess, we are also happy that Simpliance  has found a permanent home at Aparajitha Corporate Services.”

For Quess, a strategic investment of Rs.4.5 crore for its total 53 per cent shareholding made between Oct-16 and Aug-18 has yielded an enterprise value of Rs.120 crore. While the company continues to pursue its corporate structure simplification process, the company will ensure significant value unlocking from the investments made since its IPO