Quess Corp has made a public announcement regarding scheme of arrangement between Quess Corp Limited (Parent Company or Demerged Company) and Digitide Solutions Limited (Child Company or Resulting Company 1) and Bluspring Enterprises Limited (Child Company or Resulting Company 2). This scheme of arrangement was approved by the Hon’ble National Company Law Tribunal (NCLT), Bengaluru Bench. For the purpose of this corporate action, 15 April 2025 is the record date.
As per the scheme of arrangement, 1 equity share of Rs 10 each fully paid-up of the Resulting Company will be issued for every 1 equity share of Rs 10 each fully paid-up held by equity shareholders of the Demerged Company. In other words, if you held 100 shares of Quess Corp Limited as on the record date, you will receive 100 shares of Digitide Solutions Limited and Bluspring Enterprises Limited.
The resulting companies Digitide Solutions and Bluspring Enterprises are currently unlisted, but you can see these shares in the unlisted section of your portfolio upon credit of shares into your demat account. Trading will be possible once the companies apply for listing. Your portfolio will be updated with the adjusted price of existing shares of Quess Corp and the new shares of Digitide Solutions and Bluspring Enterprises once the Cost of Acquisition (COA) is declared by company.
What do you think about this order by the NCLT? Feel free to use this thread to discuss.
It is mandatory for company to list on NSE on 2 months ? is it binding? By when will the company list on NSE
I’m holding the Quess Corp stocks and recently (within 1-2 days) I see some changes in portfolio average price. Could you please elaborate the price calculation adjustment you’ve made due to demerger?
Also I got 2 separate emails from Bluspring Enterprises and Digitide Solutions recently. They received In-Principle approval for listing of Equity Shares from the Stock Exchanges on May 16, 2025. However they’ve not mentioned any date for listing. Do you have any information regarding listing date?
Please note that your average price has been updated following the receipt of the Cost of Acquisition details. As a result, you may observe changes in the reflected price.
Kindly be assured that you will receive official email communication from Bluspring Enterprises and Digitide Solutions regarding the listing date once it is finalized and announced.
Please note that there is no specific rule mandating a company to list on the NSE within two months. Once the listing dates are finalized, the company will communicate the same to you through an official email notification.
The Cost of Acquisition for Digitide Solutions and Bluspring Enterprises has been received.
- The average price of Digitide Solutions and Bluspring Enterprises has been updated in your portfolio
- The average price for the newly demerged company will be reflected once the shares are listed
Hi @SumanKJana as discussed, we have sent the detailed average price calculation to your registered email.
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