Scheme of Arrangement amongst the Company, Digitide Solutions Limited and Bluspring Enterprises Limited and their respective shareholders and creditors
Receipt of Observation Letters from BSE and NSE in relation to proposed Scheme of Arrangement
(As per BSE Announcement Dated on 01/08/2024)
Pronouncement of Order by NCLT, Bengaluru Bench approving Scheme of Arrangement
(As Per BSE Announcement Dated on: 04/03/2025)
Order passed by the Hon''ble NCLT, Bengaluru bench approving Composite Scheme of Arrangement
(As Per BSE Announcement dated on 06.03.2025)
Receipt of Certified True Copy of NCLT Order and Composite Scheme of Arrangement
(As Per BSE Announcement dated on 18.03.2025)
Effective date of the Composite Scheme of Arrangement ('Scheme') between Quess Corp Limited (Demerged Company), Digitide Solutions Limited (Resulting Company 1) and Bluspring Enterprises Limited (Resulting Company 2).
(As Per BSE Announcement Dated on: 31/03/2025)
Intimation of Record Date for the demerger of the Company
(As Per Bse Announcement Dated on 01.04.2025)
Trading Members of the Exchange are hereby informed that, pursuant to the Composite Scheme of Arrangement as approved by the Hon'ble National Company Law Tribunal, Bengaluru Bench as amongst Quess Corp Ltd ('Demerged Company'), Digitrade Solutions Ltd ('Resulting Company 1') and Bluspring Enterprises Ltd ('Resulting Company 2'), QUESS CORP LTD has fixed Record Date for the purpose of Demerger and for determining the entitlement of the shareholders of the Company, as per details given below: -
COMPANY NAME CODE
QUESS CORP LTD.
(539978)
RECORD DATE
15.04.2025
PURPOSE
As per Composite Scheme of Arrangement (Demerger) approved by the Hon'ble National Company Law Tribunal, Bengaluru Bench, between, Quess Corp Ltd ('Demerged Company'), Digitrade Solutions Ltd ('Resulting Company 1') and Bluspring Enterprises Ltd ('Resulting Company 2')and their Respective Shareholders and Creditors;
The Scheme provides for Demerger of Two Undertakings of QUESS CORP LTD , (Demerged Company) INTO Digitide Solutions Limited. (Resulting Company 1) and Bluspring Enterprises limited (Resulting Company 2);
Upon the Scheme becoming effective and In consideration of the Demerger as stated above, Digitide Solutions Limited. (Resulting Company 1) and Bluspring Enterprises limited (Resulting Company 2) shall issue and allot Equity Shares to the shareholders of QUESS CORP LTD in the following proportion:-
(A) Demerger of Demerged Undertaking No.1 into Digitide Solutions Limited. (Resulting Company 1) :
For every 1 (One) Equity Share of Face and Paid-Up value of Rs.10/- (Indian Rupees Ten only) each held in the Demerged Company, 1(One) Equity Share of Face and Paid-up value of Rs.10/- (Indian Rupees Ten only) each of Resulting Company 1 to be issued to the Equity Shareholders of the Demerged Company ('Share Entitlement Ratio 1') ('New Equity Shares 1')
EX-ENTITLEMENT FROM DATE & SETT. NO.
15/04/2025 DR-610/2025-2026
Note:
(1) Pursuant to SEBI Circular No. SEBI/Cir/ISD/1/2010 dated November 2, 2010, Trading members are hereby informed that the trading in the Equity Shares of the aforesaid Company shall be transferred from A' Group to T' Group w.e.f. 15th April, 2025, and
(2) Pursuant to SEBI Circular No. CIR/MRD/DP/01/2012 dated January 20, 2012, the aforesaid scrip shall be a part of Call Auction in Pre-open Session (Special Pre- open Session (SPOS)) on 15th April, 2025. For further information on SPOS, the Trading Members are requested to refer to the Exchanges notice no. 20120216-29 dated February 16, 2012 on Enabling Special Pre-open Session.
Subject to compliance with requisite formalities, the Equity Shares of the Resulting Company 1 and Resulting Company 2 i.e. Digitide Solutions Limited and Bluspring Enterprises Limited respectively, will be listed on BSE Limited.
(As Per BSE Notice Dated on 04.04.2025)
Apportionment of cost of acquisition of Equity Shares of Quess Corp Limited ('Quess' or the 'Demerged Company') and Digitide Solutions Limited ('Digitide' or the 'Resulting Company 1') and Bluspring Enterprises Limited ('Bluspring or the 'Resulting Company 2')
For the purpose of determining the cost of acquisition of equity shares of the Company,
Digitide and Bluspring (post demerger), you are advised to apportion your cost of
acquisition of equity shares in the Company in the following manner:
Sl.No.
Name of the Company % of Cost of Acquisition of Equity
Shares of the Company
1. Quess Corp Limited 41.71%
2. Digitide Solutions Limited 26.47%
3. Bluspring Enterprises Limited 31.82%
(As Per BSE Announcement Dated on: 14/04/2025)
Allotment of share by Resulting companies
(As Per Bse Announcement Dated on :21.04.2025) | Powered by Capital Market - Live News |
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