Ajel to acquire Zineeverse Motion Pictures business via share swap

Ajel Limited has signed an in-principle letter of intent to acquire the business of Hyderabad-based Zineeverse Motion Pictures Private Limited through a share swap. Zineeverse operates in digital streaming, media software development, and film production and distribution. Ajel will issue its equity shares as consideration. The deal is subject to due diligence, execution of definitive agreements, and board and shareholder approvals. No financial terms or share swap ratio have been disclosed yet. The letter of intent is non-binding and valid for two months.