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.
