Greenpiece Landscape India Pvt Ltd to become 100% subsidiary of Quess Corp LimitedThe Board of Directors of Quess Corp Limited at their meeting held on today i.e., April 17, 2019, considered and approved increase of the Company's stake in Greenpiece Landscape India Private Limited (Greenpiece), Subsidiary of the Company. Consequently, Greenpiece will become a wholly owned Subsidiary of the Company, on completion of the acquisition of balance shares in Greenpiece.
Greenpiece is a leading end-to-end design and landscaping services firm catering to corporates, industrial and real estate firms in India and abroad. Greenpiece has deployed headcount of over 350 employees and reported revenues of Rs. 32 Crore (March 31, 2018).
The cash consideration of INR 2.80 Cores will be paid for acquiring additional 10% stake. Total holding will increase from 90% to 100% and Greenpiece will become the Wholly Owned Subsidiary.
Shares of Quess Corp Ltd was last trading in BSE at Rs.720.5 as compared to the previous close of Rs. 723. The total number of shares traded during the day was 1227 in over 106 trades.
The stock hit an intraday high of Rs. 729.25 and intraday low of 718. The net turnover during the day was Rs. 890974.