Quess Corp Limited — Capital/Financing Update 2019

Oct 30, 2019

October 30, 2019

The General Manager Department of Corporate Services, BSE Limited, Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Scrip Code 539978

The Manager

Listing Department, National Stock Exchange of India Limited, "Exchange Plaza", Bandra-Kurla Complex, Sandra (E), Mumbai-400051 Scrip Symbol: QUESS

Dear Sir I Madam

Sub: Additional investment in Vedang Cellular Services Private Limited, Subsidiary of the Company

Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015

We wish to inform that the Board of Directors of Quess Corp Limited ("Company") at their meeting held on today i.e., 3Q1h October, 2019, considered and approved increase of the Company's stake in Vedang Cellular Services Private Limited ("Vedang") by 18.71%, Subsidiary of the Company. Consequently, Company will hold 88.71% shares in Vedang on completion of the acquisition of shares.

The information required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, ²⁰¹⁵ read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated 9th September, 2015 is enclosed with this letter.

We request you to take the above disclosure on your record.

Thanking You,

Yours sincerely, For Quess Corp Limited

Kun?

Company Secretary and Compliance Officer

Encl. a/a

Quess House, 3/3/2, Bellandur Gate, Sarjapur Road, Bengaluru-560103, Karnataka, India Tel: +91806105 6001 I connect@quesscorp com I CIN No.L74140KA2007PLC043909

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SI. No	Particulars	Details
1.	Name of the entity, details in target brief such size, etc.; turnover as	Cellular Services Private Limited Name: Vedang ("Vedang") Vedang in the business of Telecom Business: is Optimization, Installation of Active Network Managed and components in Telecom Network Services in India. space Vedang has workforce of Size & Turnover: over a of professionals it reported 1,600+ and revenue in FY 19. Rs. 107.2 Crore
2.	acquisition would fall Whether the transaction(s) within related party and whether the promoter/ promoter companies group/ have group any entity being acquired? interest in the If yes, of interest and details nature thereof and whether the is same "arm's lenath"; done at	Proposed Transaction would fall within related The subsidiary of since Vedang is transactions party a Proposed Transaction is Limited. Quess Corp The length basis. being undertaken arm's on an Companies of Group of The Promoter and Promoter in Vedang. interest Quess do not have any
3.	being Industry which the entity to acauired belonqs;	Services Telecom
4.	acquisition Objects and effects of (including but not limited to acquisitio? of reasons for disclosure entity, of target if its business is of outside the main line of business the listed entity);	Network player the Telecom key in Vedang is a • present Operations & Maintenance space, across relations, industry T?lecomcircles with 20 strong offerings and deep technical service superior capability. will lead operations to control Increased over • overall Quess strateav. enhanced alignment to
5.	of any governmental Brief details or approvals required regulatory for the acauisition;	Applicable. Not
6.	period for completion Indicative time of the acauisition;	2019 31st December, Before
7.	of consideration whether Nature - share consideration cash or swap details of the and same;	- Consideration. Cash • acquiring Crore for Tot?!_Investment Rs. 10 of up to • closing subject stake, to additional 18. 71 % adjustments.
8.	price of acquisition the Cost at or acquired; which the shares are	in Point 7 above. mentioned As
9.	Percentage of shareholding/ control acquired number of shares and I or acauired;	existing 70% to from holding will increase Total 88.71%.
10.	background about the entity Brief of oroducts/line of acauired in terms	5th April, incorporated 201 O. Vedang on was Refer SI. No. 1 Backaround-

p Limited

se, 3/3/2. Bellandur Gate, Sarjapur Road, Bengaluru-560103, Karnataka. India ^j??a .fl) ^{6105 6001 I} connect@quesscorp.com ^I CIN No.L74140KA2007PLC043909 corp.corn * www.quess - Quess Cor Quess Hou Tel: +91 ⁸⁰

SI. No	Particulars	Details
	acqatred, of business date incorporation, history of last 3 years turnover, country in which the	Key Financials Particulars	FY 2017	FY 2018	(In Rs. Crore) FY 2019
	acquired entity has and presence other significant information (in any brief);	Revenue	78.2	99.5	107.2

auess Corp Limited

Quess House, 3/3/2, Bellandur Gate, Sarjapur Road, Bengaluru-560103, Karnataka, India Tel: +91 80 6105 6001 I connect@quesscorp.com I CIN No.L74140KA2007PLC043909