In continuation to our Intimation dated 07th July 2025, with reference to our earlier submission of (01/2025-2026) Extra Ordinary General Meeting dated 07th July 2025 to be held at the ....
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Awaiting price reaction for this filing.
Accel Limited has filed a second addendum to its EGM notice dated 7th July 2025, in response to a BSE query dated 5th August 2025 seeking additional information on the proposed merger. The EGM, convened per an NCLT Chennai order dated 27 June 2025, is scheduled for 9th August 2025 at the company's registered office in Chennai. The scheme involves the merger of Accel Media Ventures Limited (AMVL), a subsidiary in which Accel holds 76.76%, into Accel Limited, with an appointed date of 1st April 2024 and a swap ratio of 6,06,250 Accel shares (face value ₹2) for every 2 AMVL shares. The addendum includes an abridged prospectus for AMVL (which reported FY24 revenue of ₹97 lakh and a net loss of ₹77 lakh with negative net worth of ₹5.99 crore) and prior clarifications submitted to BSE/SEBI in July 2024. Post-merger, Accel's net worth is projected to drop temporarily from ₹51.66 crore to ₹40.08 crore, with only 1.04% dilution, offset by an estimated ₹3.74 crore tax benefit from AMVL's accumulated losses.
The merger will consolidate AMVL's media/VFX business into Accel Limited, offering diversification into the media domain but temporarily reducing net worth with minimal shareholder dilution. Investors should note the SEBI restriction on promoter Mr. N R Panicker (barred from securities markets until September 2025 with a ₹1 crore penalty) as a governance concern, though SAT has stayed the penalty. Shareholders should review the addendum before the 9th August EGM vote on the scheme.