Accel Limited wishes to inform that the Share Allotment Committee of Board of Directors and Board of Directors of the Company, at its meeting held today, i.e., 30th April, 2026, inter-alia, ....
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Accel Limited's board, at its meeting on 30th April 2026, approved the appointment of Mr. S.V. Rao (DIN: 06600739) as an Additional Director, effective 27th April 2026. Mr. Rao is an engineering graduate with 37 years of experience in IT, telecom, and mobile services, and has been with Accel since 2020 following the acquisition of Ensure Support Services India Limited. The board also fixed 1st May 2026 as the record date for allotting equity shares to shareholders of Accel Media Ventures Limited under a merger scheme sanctioned by the NCLT, Chennai. Pursuant to the scheme, 6,06,250 equity shares of ₹2 each were allotted at a 2:1 swap ratio (1 Accel share for every 2 shares of Accel Media Ventures). Post-allotment, Accel's paid-up equity share capital stands at ₹11.63 crore divided into 5,81,78,651 shares of ₹2 each.
The share allotment expands Accel's equity base by about 1.05% (6.06 lakh new shares on a base of ~5.76 crore existing shares) and consolidates the merger with Accel Media Ventures, which is a positive structural step. The director appointment brings in a seasoned IT/telecom professional, likely supporting Accel's growth strategy.