Quess Corp to transfer digital business undertaking to subsidiary

The Board of Directors of Quess Corp Limited ("Company") at their meeting held today, i.e., Wednesday, March 30, 2022 has, considered and approved the transfer of digital business undertaking of the Company comprising of "Qjobs" (Marketplace platform for blue collar and frontline workers), "Worq" (Blue Collar Workforce Management Tool) and "Dash" (Employee Benefits and Engagement Platform) as a going concern on a slump sale basis to Billion Careers Private Limited ("BCPL"), a wholly-owned subsidiary of the Company, for a lumpsum cash consideration of Rs. 5.04 crores.

The rationale behind the slump sale of "Qjobs", "Worq" and "Dash" to give it a distinct identity, create stakeholder value and also strengthen our presence in the Blue Collar Workforce Segment. The combined entity will be the blue collar platform for Quess.

Shares of Quess Corp Limited was last trading in BSE at Rs. 656.85 as compared to the previous close of Rs. 616.60. The total number of shares traded during the day was 36802 in over 2760 trades.

The stock hit an intraday high of Rs. 665.00 and intraday low of 617.45. The net turnover during the day was Rs. 23752509.00.

Source : Equity Bulls

Keywords

QuessCorp INE615P01015 Qjobs Worq Dash SlumpSale DigitalBusinessUndertaking