Amazon sells Quess Corp shares for Rs 46 crore; promoter Fairfax Capital hikes stake

Global e-commerce giant Amazon on Saturday sold shares of business services provider Quess Corp for Rs 46 crore through an open market transaction, while promoter billionaire Prem Watsa promoted Fairfax Capital increased its holding in the company. US-based Amazon, through its investment arm Amazon.com NV Investment Holdings, offloaded 7.54 lakh shares or 0.50 per cent stake in Bengaluru-based Quess Corp, as per the bulk deal data available on the BSE.

The shares were disposed of at an average price of Rs 610.20 apiece, taking the transaction value to Rs 46.03 crore.

Meanwhile, Fairfax Financial Holdings’ affiliate Fairbridge Capital (Mauritius) and Ajit Isaac (Chairman of Quess Corp), the two promoters of Quess Corp, increased their holdings, by picking up an additional 3.77 lakh shares of the company each.

“Pursuant to Sebi (Listing Obligations and Disclosure Requirements) regulations, 2015, we would like to inform that Fairbridge Capital (Mauritius) Ltd has purchased 3,77,218 shares, and Ajit Isaac, Promoter has purchased 3,77,219 equity shares of the company on February 1, through market trades on the stock exchange,” Quess Corp said in two separate filings on Saturday.

Shares of Quess Corp rose 3.11 per cent to close at Rs 613.85 apiece on the BSE.