Quess Corp Limited (BSE:539978) entered into an agreement to acquire facilities management and catering business from Manipal Integrated Services Private Limited for INR 4.4 billion on November 28, 2016. Under the terms of the transaction, Quess Corp Limited will issue 7.15 million shares to equity holders of Manipal Integrated Services Private Limited. For the year ended March 31, 2016, the facilities management and catering business of Manipal Integrated Services Private Limited reported revenues of INR 3.3 billion. The transaction is subject to the approval of stock exchange, shareholders and creditors, sanction of the scheme of arrangement by the high court of Karnataka, listing approval from Bombay Stock Exchange and National Stock Exchange and all other statutory approvals. On November 28, 2016, the transaction was approved by the Board of Directors of Quess Corp Limited. On September 5, 2017, the transaction was approved by shareholders and creditors of Quess Corp Limited. On November 30, 2017 National Company Law Tribunal, Bengaluru Bench approved the transaction. On December 27, 2017 Quess Corp Limited issued 7.15 million shares at a price of INR 10 per share to the shareholders of Manipal Integrated Services Private Limited. The acquisition is expected to close on December 31, 2017. ICICI Securities Limited acted as financial advisor and provided fairness opinion for Quess Corp Limited. Allegro Advisors Private Limited acted as financial advisor for Manipal Education and Medical Group. Bhavi Sanghvi and Divya Mundra of AZB & Partners acted as legal advisors for Quess Corp Limited. Quess Corp Limited (BSE:539978) completed the acquisition of facilities management and catering business from Manipal Integrated Services Private Limited on January 16, 2018. The process of allotment of consideration shares to shareholders of Manipal Integrated Services Private Limited pursuant to the transaction is completed and Quess Corp Limited obtained listing approvals from both Bombay Stock Exchange and National Stock Exchange.