Quess Corp Announces Leadership for demerged entities Digitide Solutions Ltd and Bluspring Enterprises Ltd

Quess Corp Limited (BSE: 539978, NSE: QUESS), today announced the appointment of the new Board and leadership teams for Digitide Solutions and Bluspring Enterprises, the companies emerging from the demerger process.

The newly appointed Boards and the Board of Quess Corp Ltd., have appointed the following leadership team to steer the company toward unlocking value for its stakeholders.

Digitide Solutions Ltd.

Gurmeet Chahal, CEO of Digitide Solutions Ltd, comes with over 25 years of experience in the North American technology market, spanning healthcare and financial services. He brings extensive expertise as a Global Leader in AI, Analytics, and Innovation within Digital Transformation Services.

Suraj Prasad, appointed CFO of Digitide Solutions Ltd, after serving as Deputy CFO at Quess Corp for the past two years. He is a Chartered Accountant (CA), Cost & Management Accountant (CMA), Company Secretary (CS) and PGDBA by profession with over 25 years of experience across diverse industries such as Telecom, IT/ITES, Oil & Gas companies in Fortune 500 companies and Indian listed entities.

Bluspring Enterprises Ltd.

Kamal Pal Hoda, elevated to CEO of Bluspring Enterprises Ltd, from his current role as the Group CFO of Quess Corp. A Chartered Accountant and Fellow of ICAI, Kamal brings over two decades of expertise in core business finance, spanning Business Controlling, Financial Reporting, FP&A, Capital Allocation, Mergers and Acquisitions, Investor Relations, Governance, and Audit across industries such as Metals & Mining, Retail, and Business Services.

Prapul Sridhar, elevated to the position of CFO transitions into this role from his current leadership position in corporate finance at Quess Corp, bringing with him over 16 years of extensive experience across finance functions. A Chartered Accountant by qualification, Prapul has a proven track record of leading high-performing teams and driving growth. Prior to his tenure at Quess, he held roles in the technology and consultancy sector companies.

Quess Corp Ltd.

Guruprasad Srinivasan, CEO and a member of the founding team at Quess Corp, has been with the company for over 18 years and previously served as Group CEO. Following the demerger, he continues to lead Quess Corp Limited.

Sushanth Pai, appointed as the new CFO of Quess Corp, brings over 27 years of financial leadership experience across technology, consumer internet and advisory domains. Prior to joining Quess, he has served in diverse roles including CFO at Matrimony.com and member of the executive team at a global technology services company.

The record date for the demerger has been fixed for the 15th of April 2025 and the shareholders of Quess Corp Limited will receive shares in Digitide and Bluspring which will mirror their existing shareholding. The resulting companies Digitide and Bluspring are expected to commence trading on BSE & NSE in the next two months, subject to regulatory approvals.

Ajit Isaac, Founder & Executive Chairman, Quess Corp said, “This marks a pivotal milestone in Quess Corp’s evolution. The establishment of Bluspring and Digitide as independent entities enables sharper strategic focus, optimized capital allocation, and accelerated innovation. Each company now has the agility to scale rapidly, develop specialized capabilities, and seize new market opportunities. Our commitment remains steadfast in driving shareholder value, strengthening leadership, and ensuring a smooth transition for the newly formed companies. We have three able leaders in Guruprasad for Quess, Kamal for Bluspring and Gurmeet at Digitide who bring deep industry expertise.”

Guruprasad Srinivasan, CEO, Quess Corp said, “With this demerger, we’re unlocking the next phase of the Company’s growth story. Each business now has the independence to pursue focused strategies tailored to its sector, driving innovation, agility, and scale. This leadership transition empowers us to chart a bold path forward while staying true to our commitment to workforce transformation and client success.”

Gurmeet Chahal, CEO, Digitide Solutions said, “Today, AI, data technology, and intelligent operations are empowering organizations globally to transform. Digitide's mission is to deliver AI-powered, digitally native solutions that unlock new value for customers by growing revenues, enabling efficiencies, and enhancing experiences.”

Kamal Pal Hoda, CEO, Bluspring Enterprises said: “As urbanization and infrastructure development gain momentum, Bluspring is poised to become India’s leading infra services provider. Our commitment to sustainable solutions, tech-driven service delivery, and high-quality operations will set new industry benchmarks. With a robust foundation, experienced leaders and a vibrant culture, we strive to broaden our reach, establish strategic alliances, and foster sustainable growth.”

About Quess Corp

Established in Bengaluru in 2007, Quess Corp Limited (BSE: 539978, NSE: QUESS) is India’s leading business services provider - that leverages its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions.

Quess provides a host of managed outsourcing and technology-enabled services across processes such as sales and marketing, customer care, after-sales service, back office operations, staffing, manufacturing, facilities & security management, HR & F&A operations, IT & mobility services etc. Quess has a team of over 616,000 employees, serving 3000+ clients across India, North America, APAC and the Middle East as on Dec 31st, 2024.

Quess Corp announced a three-way demerger of its diversified businesses, ultimately resulting in three separate listed companies, namely Quess Corp Ltd., Digitide Solutions Ltd., and Bluspring Enterprises Ltd.

For further details please visit:

http://www.quesscorp.com; http://www.digitide.com; http://www.bluspring.com

80% Informal Employees Expect Their Employers to Provide Them Security of ESI and Other Medical Benefits

Quess Corp Launches ‘New Collar Generation Report’ Reflecting Aspirations And Expectations Of India’s Informal Workforce

• The aspiration to transition from informal employment to the formal sector is higher for women
• 84% of the informal employees agree that technology has helped create more awareness about the advantages of formal employment
• 70% of respondents employed informally have leveraged tech portals in search of employment

Quess Corp, India’s leading business service provider today published the ‘New Collar Generation Report’ which uncovers the aspirations of India’s informal economy post-pandemic. The report reveals that a majority of workers in India are still without any social security coverage, and their aspirations to move into an inclusive, secure lifestyle are taking shape.

As per the report, ‘New Collar’ defines a generation of workers whose priorities and aspirations are converging with those of formal employees, and who value security and benefits over their daily wages. This is an evolution of the term coined in 2016 by Ginni Rometty, Former Chairman and CEO of IBM.

Commenting on the report, Lohit Bhatia, President of Workforce Management, Quess Corp said, “The findings of our study offer a clear direction to policymakers on the desires of the informal workforce. With high aspirations regarding skilling, social security, and healthcare benefits, India’s informal economy is as aspirational to benefit from EPFO, ESIC, and other social security benefits as their formal counterparts. Our current laws enable coverage of such social security benefits only for organizations that have above 10 or 20 employees. This leaves behind a huge class of citizens that are not benefitted by these laws.”

He further added, “Recent efforts by several states to implement social security programmes, such as life insurance and healthcare coverage, for gig workers in the informal economy are commendable steps in the right direction. However, it is crucial to recognize that there is still a long way to go and we must all continue to make efforts to create an inclusive and secure environment for all Indian workers.”

Findings from the report indicate that informal employees are prioritising factors such as prestige and career potential over wages today. Moreover, 97% of those informally employed agree that they have a better chance of improving their lifestyle and that of their families with a formal job as opposed to one without a contract.

Convergence between expectations of India’s informal and formal workforce

According to the survey, 80% of the informal employees expect their employers to provide them with the security of ESI and other medical benefits; the expectation of ESI is even higher for the younger, informal employees (83% - 18 to 25 years and 81% - 26 to 35 years). Furthermore, 79% of respondents claim they would compromise on 20% or more of their salary if it provided security and benefits equivalent to their formal counterparts (78%), indicating that the New-Collar Generation’s priorities and aspirations are converging with those of formal employees and that they value security and benefits over their daily wages.

Impact of tech on job discovery for the informal

Technology has played an important role in educating workers about the benefits of formal employment, with the survey revealing that 84% of the informal respondents agree that technology has helped create more awareness about the advantages of formal employment. As digital natives, informal employees aged between 18 to 35 have more confidence in the awareness technology has brought than their older counterparts. Interestingly, it was found that 70% of respondents employed informally have leveraged tech portals such as job hunting portals, online news portals, and company websites to search for information about job security and benefits any prospective employer offers.

The aspiration to transition from informal employment to the formal sector is higher for women

While both genders are looking beyond wage rates when assessing professional opportunities, the priorities of women working in the informal sector are skewed towards health and security, while for men, it's more inclined toward career building. The report found that 63% of women claim that they would be ‘very likely’ to compromise on a higher salary in lieu of health benefits and a formal agreement, compared to only 28% of men. Furthermore, 38% of women (and 29% of men) believe that the Covid-19 pandemic has highlighted the importance of job security. The study also found that men are more focused on career building, prestige, and are more cognizant of the value of professional networking, while women believe education holds the key to securing a formal job.

Methodology

The report is based on interviews with 4,179 respondents of all ages across 7 metros: Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, Pune, and 7 non-metros: Ahmedabad, Baroda, Coimbatore, Indore, Lucknow, Ludhiana, Nashik conducted between September 2022 and January 2023. All the findings from the survey are supported by the latest secondary research across the country.

About Quess Corp

Established in Bengaluru in 2007, Quess Corp Limited (BSE: 539978, NSE: QUESS) is India’s leading business services provider - that leverages its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions. Quess provides a host of technology enabled staffing and managed outsourcing services across processes such as sales & marketing, customer care, after sales service, back office operations, manufacturing, facilities and security management, HR & F&A operations, IT & mobility services etc. Quess has a team of ~511,000 employees, serving ~3000 clients across India, North America, APAC and the Middle East as on Mar 31st, 2023.

For further details on Quess Corp Ltd., please visit: http://www.quesscorp.com

DCMN Buys Kochi’s 1SDK, Quess Corp Gets Rs 180 Cr and Virat Kohli Launches Fitness Startup Stepathlon

India and US-based startup 1SDK has acquired by Berlin-headquartered growth solutions provider DCMN; Quess Corp has raised about Rs 180 crore from 15 anchor Investors in a pre-initial public offer (IPO) share sale; and Cricketer Virat Kohli on Tuesday launched a new fitness venture in a joint venture with Stepathlon Lifestyle.

Berlin Based DCMN Buys Mobile Analytics & Engagement Firm 1SDK

India and US-based startup 1SDK, which offers a SAAS-based platform for advanced mobile attribution analytics capabilities to mobile app developers, has acquired by Berlin-headquartered growth solutions provider DCMN. The financial details of the deal are still undisclosed by both the companies.

Post acquisition, DCMN, which has so far focused on developing its TV attribution technology, to develop a proprietary mobile capability as well as launch new features leveraging the two platforms, as ETTech reported.

Founded by Anil Kutty, 1SDK was incorporated in the United States in 2013 with its team primarily based in Kochi. As part of the acquisition, Kutty will join DCMN as director of mobile products as will his team of developers.

The 1SDK tool works by measuring conversions from mobile advertising campaigns using metrics including retention, engagement and churn (or app uninstalls).

Quess Corp Gets Rs 180 Cr from 15 Anchor Investors

Quess Corp has raised about Rs 180 crore from 15 anchor Investors in a pre-initial public offer (IPO) share sale.

Some of the anchor Investors include Fidelity Investments, Kuwait Investment Authority, ICICI Prudential MF, HDFC MF, Nomura, Harvard Management Co, DSP BlackRock, Wasatch, Pictet, Grandeur Peak among others.

The Bengaluru-based staffing company has allocated 75% for QIBs, 15% for high networth individuals and 10% for retail investors in the IPO, as per ET report.

Virat Kohli Launches Stepathlon to Tackle Fitness Issues Affecting Kids

Cricketer Virat Kohli on Tuesday launched a new fitness venture in a joint venture with Stepathlon Lifestyle.

The venture, called Stepathlon Kids, seeks to tackle fitness issues affecting kids by taking them through to a 30-day pedometer-based virtual race that will help increase awareness on health issues.

The new venture looks to reach 50,000 children in the first year of operations. "We will generate revenues from a combination of sponsorships, partnerships, licensing and merchandising for the medium to long term," said Ravi Krishnan, CEO, Stepathlon Lifestyle.

Last year, Virat Kohli invested around Rs 90 crore in Chisel Fitness, a Bengaluru-based fitness centre which recently announced plans to introduce technology-enabled, gamified workout routines and add 100 more centres in the next two years.

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