ACCEL LTD - OUTCOME OF BOARD MEETING HELD ON 20TH JANUARY, 2022

Accel Ltd - OUTCOME OF BOARD MEETING HELD ON 20TH JANUARY, 2022

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20 Jan 2022
The Board in its meeting held today considered a proposal for acquiring substantial minority stake in a Cyber Security Consulting and services company namely BizCarta Technologies India Private Limited, based in Bangalore with operations and customers in India, Singapore, USA and Australia, through acquisition of shares from present promoters and direct investment into the company. After reviewing the Independent Valuation Report and Due Diligence Report, the Board authorized N.R. Panicker, Managing Director to enter into suitable agreements to acquire upto 26% of the Equity for consideration not exceeding Rs. 500 Lakhs and to conclude the transaction within 30 days. This initiative is in line with the company's objective of expanding its service portfolio to include IT Security Services. Post investment by Accel Limited, BizCarta will be run as a joint venture company with Accel's representatives on its board.
View all announcements for Accel Ltd	Source: BSE India

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