It is most respectfully submitted that. BSE vide query dated 05.08.2025 has instructed additional data concerning Notice (01/2025-26) of Extra-ordinary General Meeting dated 07.07.2025. Accordingly ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Accel Limited has submitted a para-wise compliance response to BSE's observation letter dated December 2, 2024 regarding the proposed Scheme of Amalgamation of Accel Media Ventures Limited (AMVL, the Transferor Company) with Accel Limited (the Transferee Company) under Sections 230-232 of the Companies Act, 2013. An EGM is scheduled for August 9, 2025, for approval from equity shareholders, secured creditors, and unsecured creditors, following an NCLT order dated June 27, 2025. The appointed date is April 1, 2024, with a swap ratio of 6,06,250 equity shares of Accel Limited (face value Rs. 2) for every 2 shares of AMVL; this would dilute Accel shareholders by only 1.042%. The company also issued an IInd Addendum to the EGM notice providing abridged prospectus-style disclosure on AMVL and prior SEBI query responses. The disclosure reveals that AMVL had a negative net worth of Rs. (5,99,07,624) and a net loss of Rs. (76,84,393) as on March 31, 2024, and that post-merger net worth of Accel would reduce from Rs. 5166.39 lakhs to Rs. 4008.38 lakhs, though the company expects this to be recouped through tax benefits of about Rs. 3.74 crore and business synergies.
Shareholders should note a temporary dip in net worth post-merger, partially offset by tax benefits and expected synergies in the media/VFX space; the merger will marginally dilute equity by ~1.04%. The disclosure also brings to light a Rs. 1 crore SEBI penalty (conditionally stayed by SAT) and a 2-year securities market ban (ended September 2025) on the AMVL promoter, which may be a governance concern but is historical in nature.