Avantel Ltd Approves Merger and Director Appointment

Avantel Limited's Board of Directors has approved the merger of its wholly owned subsidiary, Imeds Global Private Limited, into Avantel Limited. This scheme is subject to approval from the National Company Law Tribunal (NCLT) and other regulatory bodies. The merger involves Imeds Global Private Limited with a revenue of ₹160.32 Lakhs and net worth of ₹2,182.83 Lakhs as of March 31, 2026, into Avantel Limited, which reported a revenue of ₹22,135.23 Lakhs and net worth of ₹35,650.45 Lakhs on the same date. Additionally, the board approved the appointment of Mr. Nimmagadda Sreenivasa Rao as Additional Director (Director Technical) for three years, commencing October 26, 2026, pending shareholder approval via postal ballot. This transaction is considered an arm's length transaction and exempt from certain related party transaction regulations.