Stampede Capital Ltd got approval to restructure WEXL Edu Pvt Ltd business

Stampede Capital Ltd (SCAP DVR) - Financial Consultancy firm has received in-principle approval to explore appropriate options including merger, acquisition, or other suitable options of arrangement for restructuring the business of WEXL Edu Private Limited in order to align with the long-term strategic objectives of the Company. As per the reports, Company has changed its name from ‘Stampede Capital Ltd’ to ‘GACM Technologies Ltd’. Company had appointed PwC Business Consulting Services LLP in connection with the determination of equity value of WeXL Education Private Limited.

WeXL is an online education company offering a digital platform to schools, colleges, institutes, coaching centers and other education companies/stakeholders. Company has currently onboarded 27,000 students through tie-ups/MOUs with 46 schools. Company further 154 schools in pipeline at various stages of discussion, with potential of ~90,300 total students. WeXL has developed a unique research-based program (Micro Learning Program), which guarantees improvement in performance of the users by 30%-50%. PwC in its report has estimated the Equity Value of WeXL in the range of Rs. 91 crore to Rs. 101 crore as per Value Analysis.

Moreover, it was further agreed to undertake necessary discussions with the management of WEXL Edu Private Limited in connection with restructuring the business of WEXL Edu Private Limited. Upon completion of the discussion on restructuring the business of WEXL Edu Private Limited, the approval of the Board of Directors of both the Companies shall be secured. In the month of May 2023, the company allotted equity shares on preferential basis with normal voting rights and differential voting rights. Company has allotted 11.12 crore equity shares at face value of Rs. 1 per share with normal voting rights amounting Rs. 11.12 crore. Company also completed allotment of 10.60 lakh equity shares of Rs. 1 face value with differential voting rights at Rs. 14 per share amounting Rs. 1.48 crore.

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