Ace Software Exports has approved the acquisition of 100% stake in QeApps Private Limited for ₹120 crore. The Board of Directors also altered the utilization of net proceeds from its ongoing rights issue to fund this transaction.

The decision was taken during a meeting held on September 3, 2026. The company will reallocate ₹1,200 lakh from its rights issue proceeds specifically for this new object. The acquisition is subject to shareholder approval at the ensuing Annual General Meeting (AGM).

Rights Issue Variation

The Board approved changes to the Objects of the Issue as stated in the Letter of Offer dated November 14, 2025. This variation does not increase the total size of the rights issue, which remains at ₹6,018.21 lakh. Instead, funds are being shifted between existing categories and allocated to the new acquisition.

Key adjustments include:

• QeApps Acquisition: A new object introduced with ₹1,200 lakh allocation.
• Global Market Expansion: Reduced from ₹1,000 lakh to ₹340 lakh, with ₹660 lakh reallocated.
• QeMatic Brand: The entire unutilized amount of ₹400 lakh is reallocated; it is no longer a separate object.
• Organizational Transformation: Reduced from ₹340 lakh to ₹100 lakh, with ₹240 lakh reallocated.
• QeLearn Investment: An additional ₹100 lakh is allocated for further investment in QeLearn Private Limited.

QeApps Acquisition Details

QeApps Private Limited is a technology solutions provider specializing in Shopify applications. It offers over 20 apps for e-commerce merchants, including product bundling and checkout optimization. The target entity reported revenue from operations of ₹95 lakh in FY26 and ₹65 lakh in FY25.

The acquisition involves purchasing 10,000 equity shares at ₹12,000 per share. The transaction is classified as a related-party transaction, as certain promoters and promoter group members hold shares in QeApps. The deal is structured at arm’s length based on a valuation report by Chartered Accountant Jigar P. Shah.

Upon completion, QeApps will become a wholly owned subsidiary of Ace Software Exports. The acquisition aims to expand the company’s business operations and enhance capabilities within its existing IT and software services line of business.

Call Money Timeline Modification

The Board also modified the terms regarding the timeline for making outstanding calls on partly paid-up equity shares. Previously, the company was required to complete all calls within 12 months from allotment (by December 19, 2026).

Due to the appointment of a Monitoring Agency under Regulation 82 of the SEBI ICDR Regulations, the strict 12-month deadline no longer applies. The First Call on partly paid-up equity shares is payable from September 2, 2026, to September 16, 2026.

AGM Schedule

The 32nd Annual General Meeting is scheduled for Monday, September 28, 2026, at 1:00 pm. The meeting will be held at Solitaire Connect, Ahmedabad. Shareholders can vote electronically via remote e-voting from September 25 to September 27, 2026. The cut-off date for e-voting entitlement is September 21, 2026.

Ace Software Exports has issued a first call notice for ₹30.25 per share on 54.71 lakh partly paid-up rights equity shares. The company fixed Wednesday, August 26, 2026 as the record date for determining eligible shareholders.

The board approved the call amount at its meeting on Tuesday, August 18, 2026. This payment represents the second tranche of capital collection from the rights issue launched in November 2025.

Call Money Details

The total issue size of the rights equity shares is up to ₹6,018.21 lakh. Shareholders had previously paid ₹49.50 per share as application money. The remaining balance of ₹60.50 per share was payable in subsequent calls.

Trading in the partly paid-up shares (ISIN: IN9849B01026) was suspended effective Tuesday, August 25, 2026. New partly paid-up shares with a paid-up value of ₹7.25 will trade under a new ISIN within two weeks of the last payment date.

Payment Timeline and Modes

Shareholders must pay the first call money between Wednesday, September 2, 2026 and Wednesday, September 16, 2026. The company accepts payments through online or physical ASBA, 3-in-1 trading accounts, or cheques/demand drafts.

Late payments attract interest at 10% per annum. Failure to pay renders the shares liable for forfeiture under the Companies Act, 2013.

What the Numbers Show

The first call of ₹30.25 constitutes exactly half of the remaining balance due (₹60.50) per rights share. This structured repayment plan allows shareholders to settle the outstanding liability in two equal tranches after the initial application money.