Outcome of Board Meeting held on September 26, 2025
Price
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The Board of Directors of Ace Software Exports Ltd approved a Rights Issue of partly paid-up equity shares to existing shareholders to raise up to ₹7,200 Lakhs (₹72 Crores). The pricing, entitlement ratio, and record date will be decided later by a Fund-Raising Committee. Separately, the Board approved acquiring a 70% stake in Theia Education Pvt Ltd (TEPL), an AI-driven Ed-Tech firm, for a total cash consideration of ₹12.56 Crores — ₹7.04 Crores to buy 2,04,000 shares from existing shareholders at ₹345 each and ₹5.52 Crores for subscribing to 1,60,000 fresh shares via preferential issue at the same price. TEPL posted turnover of ₹100.66 Lakhs in FY25 (down from ₹197.88 Lakhs in FY24) and was incorporated in 2023. The acquisition is expected to be completed in tranches within one year and diversifies Ace Software into the Ed-Tech/AI space.
Shareholders will get a chance to subscribe to the Rights Issue, though the ratio and price are not yet fixed, which means potential equity dilution. The TEPL acquisition is small relative to the Rights Issue size, but signals a strategic push into AI-based education, though TEPL's declining revenues raise some risk questions for investors.