Home / Companies / News /  Quess Corp promoters sells 3.39% stake worth 450 crore

Promoters Ajit Issac and Fairbridge Capital (Mauritius) Ltd on Monday sold 3.39% equity stake in Quess Corp Ltd, the business services provider, via an open market transaction.

Ajit Issac and Fairbridge Capital (Mauritius) sold 2 and 3 million equity shares respectively of the total paid-up equity in Bengaluru-based provider of technological and business service at an average price of 900 per share aggregating to 450 crore, according to the bulk deals data available on the exchange.

Foreign institutional investor SmallCap World Fund Inc bought 4.13 million shares or 2.80% in Quess Corp at an average price of 900, taking the deal value to 371.74 crore.

According to the latest shareholding pattern, Ajit Issac and Fairbridge Capital (Mauritius) held 12.59% and 31.74% respectively.

Quess Corp reported a 25% increase in consolidated profit after tax (PAT) at 45 crore for the June ended quarter against 36 crore during the corresponding quarter of 2020-21. Revenue from operations of the company grew 23.99% to 2,987 crore during the June quarter compared to 2,409 crore in the same quarter of the previous fiscal.

From the beginning of the calendar year, Quess Corp gained 57.43% against a rise of 13.93% in the benchmark index, Sensex.

At close, Quess Corp declined 1.93% to 860.05 on Monday on BSE, while the benchmark index, Sensex gained 0.23% to close at 54,402.85 points.

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