Shares listed at a price of ₹89 per share, while those of Digitide began trading at ₹245 per share,
The demerger will now result in Quess Corp focusing on its core workforce management business, while the
global technology services and platform-led businesses (excluding Foundit) have been hived off into Digitide Solutions.
Bluspring Enterprises encompasses the Operating Asset Management (OAM) and Foundit businesses.
For the financial year 2024, the Operating Asset Management segment contributed approximately 15% to Quess Corp’s total revenue and 20% to its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA). Foundit, the online job platform, accounted for 2.85% of Quess Corp’s revenue during the same period.
Bluspring’s Operating Asset Management revenue has shown a growth trend over the past six fiscal years, rising to ₹2,800 crore ($335.5 million) in FY24 from ₹1,702 crore ($203.9 million) in FY19, according to HDFC Securities. However, its EBITDA margin for OAM has seen fluctuations, declining to 5% in FY24, from 7.9% in FY19.
Leading Bluspring Enterprises are Kamal Pal Hoda as Chief Executive Officer and Prapul Sridhar as Chief Financial Officer.
First Published: Jun 11, 2025 8:37 AM IST
