Corporate News

26-Oct-2026, 03:48

Avantel Limited announced that its board approved the merger of its wholly-owned subsidiary, Imeds Global Private Limited, into Avantel Limited, subject to approval from the National Company Law Tribunal and other relevant authorities. The merger is intended to rationalize the group structure and improve operational efficiency. Additionally, the board appointed Mr. Nimmagadda Sreenivasa Rao as an additional director, designated as Director (Technical), for a term of three years. Imeds Global Private Limited reported revenue of Rs 160.32 crore and a net worth of Rs 2,182.83 crore as of March 31, 2026, while Avantel Limited reported revenue of Rs 22,135.23 crore and a net worth of Rs 35,650.45 crore for the same period.