Quess Corp Limited (BSE:539978) entered into an agreement to acquire Allsec Technologies Limited (BSE:532633) on June 22, 2022. Under the terms, Public shareholders of Allsec will receive 74 shares of Quess for every 100 shares held in Allsec. Post merger there will be a combined entity.

The Board of Directors of Allsec Technologies and Quess Corp in their respective meetings held on June 22nd, 2022 have approved the Scheme of Amalgamation. The merger is subject to the approval of the respective shareholders and creditors of Quess and Allsec, Stock Exchanges, SEBI, the National Company Law Tribunal and other regulatory authorities as may be required. ICICI Securities Limited acted as financial and Fairness Opinion Provider to Quess Corp Limited.

Fedex Securities Limited acted as fairness opinion provider to Allsec Technologies. Aeka Advisors acted as tax advisor to Quess Corp Limited. Mr Murali Ananthasivan (Chambers of A. Murali) acted as legal advisor to Quess Corp Limited.