Accord Synergy Board Notes SPA for 40% Stake Acquisition, Approves Preferential Issue of 4,00,000 Equity Shares

The Board of Directors of Accord Synergy Limited convened a meeting on May 6, 2026, commencing at 4:30 p.m. and concluding at 5:15 p.m., during which two significant corporate actions were deliberated upon and acted on — the noting of a Share Purchase Agreement (SPA) involving a change in promoter shareholding, and the approval of a preferential issue of equity shares.

Share Purchase Agreement: Up to 40% Stake to Change Hands

The board noted and took on record the execution of an SPA dated May 6, 2026, between the existing promoters of the company — Mr. Betulla Khan and Mrs. Roli B Khan (collectively, the "Sellers") — and Dr. Faruk Patel ("Acquirer") along with Mr. Muinulhaque Kadva ("Person Acting in Concert" or "PAC"). Accord Synergy Limited is not a party to the SPA. The key terms of the agreement are summarised below:

Parameter: Details Date of SPA: May 6, 2026 Sellers: Mr. Betulla Khan and Mrs. Roli B Khan (existing promoters) Acquirer: Dr. Faruk Patel Person Acting in Concert (PAC): Mr. Muinulhaque Kadva Shares to be Acquired: Up to 40% (up to 13,88,800 equity shares) of paid-up equity share capital Aggregate Consideration: Up to ₹5,58,74,896 Related Party Transaction: No Restrictions/Liabilities on Company: None

Pursuant to the SPA, the Acquirer will be required to make an open offer in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations. The consummation of the proposed transaction is subject to the satisfaction of conditions precedent, including receipt of relevant customary approvals. Upon completion of the transaction and the open offer, the Acquirer together with the PAC will acquire joint control over the company along with the existing Promoter Group and will be classified as promoters/Promoter Group of the company in accordance with applicable law. The board of the company shall also be reconstituted to include directors nominated by the Acquirer upon completion of the transaction.

Preferential Issue of Equity Shares Approved

In the same meeting, the board considered and approved the issuance of equity shares on a preferential basis, subject to shareholder approval and other necessary regulatory clearances. The preferential issue is in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the SEBI LODR Regulations, and the Companies Act, 2013. The details of the proposed preferential issue are as follows:

Parameter: Details Type of Securities: Equity Shares Number of Shares: 4,00,000 (Four Lakh) Face Value: ₹10/- per share Issue Price: ₹42.35/- per share Premium per Share: ₹32.35/- per share Total Aggregate Amount: ₹1,69,40,000/- Investor: Dr. Faruk Patel Number of Investors: 1 (One)

Post-Issue Shareholding Impact

The preferential issue, when combined with the shares to be acquired under the SPA, will have a material impact on the shareholding structure of the company. The post-issue shareholding of Dr. Faruk Patel is detailed below:

Particulars: Pre-Issue Shares Pre-Issue % Post-Issue Shares Post-Issue % Dr. Faruk Patel: 0 0% 1,649,920* 42.61%

Post-issue shareholding includes 12,49,920 equity shares to be acquired under the SPA and 4,00,000 equity shares to be allotted through the proposed preferential issue. Shares acquired through the open offer shall be over and above the aforesaid number of shares.

Further developments and updates in connection with the SPA and the preferential issue will be intimated to the stock exchanges in due course. The disclosures along with enclosures are available on the company's website at www.accordsynergy.com .

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.

We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.

Disclaimer:

The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.

This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.

The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.

We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.

This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.

By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.

We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.