Sir/Madam, BSE vide Query dated 05.08.2025 has requested additional information/compliances in the Explanatory statement to EGM notice dated 07.07.2025. Please find the attached and ....
Price
▲ 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 filed a Second Addendum to the EGM notice for its proposed merger with Accel Media Ventures Limited (AMVL). The EGM is scheduled for August 9, 2025, and was convened following an NCLT Chennai order dated June 27, 2025, under Sections 230-232 of the Companies Act, 2013. This addendum was issued in response to a BSE query dated August 5, 2025, and includes an abridged prospectus for AMVL (the Transferor) along with the company's earlier 2024 responses to SEBI/BSE queries on the scheme. The swap ratio is 6,06,250 equity shares of Accel (face value Rs 2 each) for every 2 shares of AMVL, with the appointed date set as April 1, 2024. AMVL reported negative net worth of Rs 5.99 crore and a net loss of Rs 76.84 lakh as of March 31, 2024, and Accel already holds 76.76% of AMVL, making this effectively a group restructuring.
The merger will dilute Accel's equity by only about 1.04% but will temporarily reduce its net worth from Rs 51.66 crore to Rs 40.08 crore, partly offset by an estimated Rs 3.74 crore tax benefit from AMVL's accumulated losses. Shareholders should review the disclosed SEBI action against AMVL promoter N R Panicker (Rs 1 crore penalty and market access bar till September 2025), though the matter is under appeal at SAT with the penalty conditionally stayed.