Avantel approves Imeds merger and technical director appointment
AVANTEL · price
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Avantel’s board approved merging subsidiary Imeds Global into Avantel, subject to NCLT approval. No cash or new shares are proposed, so ownership will not change. FY2026 revenue and net worth were Rs 160.32 lakh and Rs 2,182.83 lakh for Imeds, versus Rs 22,135.23 lakh and Rs 35,650.45 lakh for Avantel. Nimmagadda Sreenivasa Rao, an employee since 1997, was appointed Technical Director for three years, pending shareholder approval.
The merger may reduce duplication but needs court and regulatory approvals. The appointment adds technical leadership, with no immediate share dilution.