ACE Software Exports Ltd: Rights Issue Fund Use Reallocation Approved
ACE Software Exports Ltd has filed a Statement of Deviation or Variation for its Rights Issue proceeds for the quarter ended September 30, 2026. The company reallocated ₹13.00 Crore from existing objects, including discontinuing the QeMatic project and reducing allocations to Strategic Initiatives and Organizational Transformation. These funds were reallocated to increase investment in Theia Education Private Limited by ₹1.00 Crore and to introduce a new object for the acquisition of equity shares of QeApps Private Limited amounting to ₹12.00 Crore. The total Rights Issue size of ₹60.18 Crore remains unchanged. The variation was approved by shareholders on September 28, 2026, at the 32nd Annual General Meeting. Funds utilized during the quarter were applied towards General Corporate Purposes.
Key Highlights
- Rights issue funds reallocated with shareholder approval.
- ₹13 Crore reallocated from discontinued/reduced projects.
- ₹1 Crore invested in Theia Education, ₹12 Crore for QeApps acquisition.
- Total Rights Issue size of ₹60.18 Crore remains unchanged.
- Funds utilized in the quarter were for General Corporate Purposes.
Price Impact
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