Quess Corp, a global business services provider, has recently allotted 1,57,447 equity shares to its employees as a part of the Quess Stock Option Plan (QSOP) 2020. The decision was disclosed through a regulatory filing with the stock exchange.
As per the filing, each of these equity shares holds a face value of Rs 10.
Right after the announcement, the company’s paid-up capital has witnessed a notable increase, now comprising a total of 14,83,86,935 equity shares with a face value of Rs 10 each. However, the company’s shares experienced a slight decline in value at the stock market on Friday, reaching Rs 428 at 3:30 PM IST, reflecting a decrease of 1.19 per cent.
With this recent allocation of equity shares, Quess Corp aims to further strengthen its relationship with its employees and foster a sense of ownership and motivation within its workforce.
Quess Corp, is a global business services provider that operates across various industry verticals. For instance, the company provides a wide range of services including workforce management, technology solutions, and facility management. Additionally, it has comprehensive offerings that cater to both domestic and international clients, contributing to its strong market presence and reputation.
Recently, the company expanded its workforce by 73,000 employees during the fiscal year that concluded on March 23. As per many media reports, this marks the second consecutive year in which the company has witnessed substantial growth in headcount, despite the slowdown in India’s overall job market due to challenging global economic conditions. The decision is said to be made as the company witnessed 17 per cent increase in its revenues for the quarter concluding in March 2023.
