ACE Software Exports531525Stake acquisition deal
Board approves preferential issue for two UK buys, second and final call on partly paid shares
Board meeting on 6 November 2026 approved several items.
By ScoutQuest · · 3 min read
35.05%Stake acquired in each UK ( issue
- Second and final call per share
- ₹ 30.25/- per share on ~54.71 lakh partly paid-up shares
- Record date / payment window
- Record date 20 November 2026; payment window 27 November to 11 December 2026
- Stake acquired in UK firms
- 35.05% each in two UK energy-tech firms, paid with 72,820 and 3,79,326 new shares at ₹ 238/-
Board approved several items at its meeting on 6 November 2026, including the September-quarter results and three capital actions.
Call money on partly paid-up shares
- A second and final call of ₹ 30.25/- per share on ~54.71 lakh partly paid-up equity shares of face value ₹ 10.00 each (ISIN IN9849B01034), which were allotted in December 2025 on a rights basis.
- Out of each ₹ 30.25/-, ₹ 2.75 is adjusted towards face value and ₹ 27.50 towards securities premium.
- A reminder notice is being issued for the first call on ~4.34 lakh partly paid-up shares (ISIN IN9849B01026). Those holders have to pay ₹30.25 towards the first call and ₹30.25 towards the second and final call, that is ₹60.50 per share.
- Record date: Friday, 20 November 2026. Payment period: Friday, 27 November 2026 to Friday, 11 December 2026, both days inclusive.
Two UK acquisitions of 35.05% each
MyUtilityGenius Limited (MUG)
- 361 equity shares of £1 each, 35.05% of the post-issue equity share capital, at £ 420.09/- per share, for a total of £ 151,652.38.
- 331 shares, or 32.14%, bought from Westbury Solutions Limited for £ 139,049.79 (~₹ 1.74 crore), settled by share swap.
- 30 shares, or 2.91%, subscribed for cash for £ 12,602.59 (~₹ 15.77 lakh).
- The swap is settled by issuing 72,820 fully paid-up shares at ₹ 238/- each (₹ 10 face value plus ₹ 228 premium), aggregating ~₹ 1.73 crore, on a preferential basis to Westbury Solutions Limited.
MyUtilityGenius Commercial Limited (MUGC)
- 361 equity shares of £1 each, 35.05%, at £ 2179.79/- per share, for a total of £ 786,906.07.
- 331 shares, or 32.14%, from Westbury Solutions Limited for £ 721,510.49 (~₹ 9.03 crore), by share swap.
- 30 shares, or 2.91%, in cash for £ 65,393.58 (~₹ 81.83 lakh).
- The swap is settled by issuing ~3.79 lakh fully paid-up shares at ₹ 238/- each, aggregating ~₹ 9.03 crore.
Both targets are UK-based energy technology and consultancy businesses covering energy procurement, tariff pricing and switching platforms. The update states neither acquisition is a related party transaction and both are on an arm's length basis, backed by a registered valuer's report.
Target revenues (in GBP)
- MUG: 2025-26 £ 696,123 (provisional), 2024-25 £ 554,332, 2023-24 £ 485,442.
- MUGC: 2025-26 £ 756,391 (provisional), 2024-25 £ 1,126,026, 2023-24 £ 956,369.
Conditions and timing
- Both acquisitions need shareholder approval for the preferential issues and other regulatory or statutory approvals.
- Completion is indicated within 15 days from the later of the special resolution date or the exchanges' in-principle approval for allotment.
- The rupee amounts are stated at an exchange rate of ₹ 125.1333 per GBP.
Merger of subsidiaries
- The Board approved a scheme of amalgamation of seven wholly owned subsidiaries — Ace Infoway, Ace InfoWorld, QeCAD Studio, QeNomy Digital, QeMFG, QeLearn and QeApps — into the company under Sections 230 to 232 of the Companies Act, 2013.
- It is subject to approvals, directions and sanctions from the NCLT, the Central Government and other authorities.
Results
- Unaudited standalone and consolidated results for the quarter ended 30 September 2026 were considered and approved, along with the statutory auditor's Limited Review Report.
Key takeaway
- Partly paid-up shareholders have a defined window to pay; the record date decides who receives the call notice.
- Both UK acquisitions are paid largely in new company shares, so the share count rises, and the future earnings contribution of these businesses is what would matter over time.
- The merger is a consolidation of wholly owned units and is subject to tribunal approval.
Also from ACE Software Exports
ACE Software Exports to acquire 35.05% each of MyUtilityGenius Ltd and MyUtilityGenius Commercial Ltd for £151,652.38 and £786,906.07
6 Nov 2026
Record Date Fixed for Second and Final Call on Partly Paid-Up Equity Shares
6 Nov 2026
Board outcome: September-quarter results, call money on partly paid shares, two UK buys and a subsidiary merger
6 Nov 2026
More numbers
- Second and final call per partly paid-up share₹ 30.25/-
- Partly paid-up shares under second and final call54,71,101
- Partly paid-up shares under first call reminder4,34,380
- Total payable per share (first call plus second call)₹60.50
- Preferential issue price per share₹ 238/-
- MUG consideration shares to be issued72,820
- MUGC consideration shares to be issued3,79,326
- Stake acquired in each UK target (post issue)35.05%
Source: BSE · 6 Nov 2026
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