Quess Corp to hike stake in subsidiary Vedang

Business services provider Quess Corp on Wednesday said its board has approved increasing the company's stake in its subsidiary Vedang Cellular Services by 18.71 per cent for a cash consideration of up to Rs 10 crore. Consequently, Quess Corp will hold 88.71 per cent shares in Vedang, the company said in a BSE filing.

The indicative time period for completion of the deal is before December 31, 2019, it added. Vedang is in the business of telecom network optimisation, installation of active components in telecom networks and managed services space in India.

Shares of Quess Corp Ltd closed at Rs 474 per scrip on the BSE, up 1.14 per cent.