Accel Ltd Sets Merger Record Date, Names S.V. Rao Director

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AuthorVihaan Mehta|Published at:
Accel Ltd Sets Merger Record Date, Names S.V. Rao Director
Overview

Accel Limited has fixed May 1, 2026, as the record date for its merger with Accel Media Ventures Limited, involving the allotment of 6,06,250 equity shares. The company also approved the appointment of Mr. S.V. Rao as an Additional Director, subject to shareholder nod. This move aims to consolidate operations within the IT services sector.

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Accel Ltd Finalizes Merger Record Date and Appoints New Director

Merger Record Date Determined

Accel Limited announced that May 1, 2026, has been established as the record date to identify shareholders eligible for its merger with Accel Media Ventures Limited. This step is crucial for the planned allotment of equity shares.

New Director Appointed

The company's board has also approved the appointment of Mr. S.V. Rao as an Additional Director, effective April 27, 2026. This appointment is contingent on subsequent approval from Accel Limited's shareholders.

Merger Details and Financial Implications

The merger with Accel Media Ventures Limited includes the allotment of 6,06,250 equity shares in Accel Limited to Accel Media Ventures shareholders, based on a 2:1 ratio. Following this integration, Accel Limited's post-merger equity share capital is projected to be approximately ₹11.64 crore. The total number of equity shares is expected to exceed 5.81 crore. This consolidation is intended to streamline operations within the group's IT services sector.

Background of the Integration

Accel Limited, a firm active in IT services, digital transformation, and automation, is merging with Accel Media Ventures Limited, another IT services company. The merger received approval from the National Company Law Tribunal (NCLT) on March 10, 2026. The integration aims to enhance operational efficiency and market competitiveness.

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