1. Rights issue funds deployment - The ₹60.18 cr rights issue closed in December 2025, with ₹27.08 cr received and ₹33.10 cr call money still receivable. The bulk of the ₹10 cr allocated to QeMFG and ₹10 cr to global expansion remained unspent as of March 2026, so deploying this already-raised capital into the stated growth initiatives converts a funded war chest into revenue-generating assets without further dilution.
2. QeLearn full consolidation - Ace completed the acquisition of 100% of QeLearn (formerly Theia Education) on 12 May 2026 for a total cash outlay of approximately ₹17.9 cr. Full ownership lets Ace consolidate QeLearn’s ₹1.01 cr FY25 revenue and any AI-edtech growth directly into group earnings from Q1 FY27 onward.
3. UK energy-tech subsidiary - A binding term sheet signed on 15 Feb 2026 gives Ace 40% stakes with majority board control in two UK energy-tech companies whose combined FY25 turnover was approximately ₹19.8 cr. Completion within three months would add a regulated, SaaS-heavy revenue stream and mark the first large international acquisition to hit the group P&L.
4. SmartPPS commercial rollout - The flagship digital manufacturing product SmartPPS is deployed at a top Indian machine manufacturer, with commercial rollout beginning shortly. A successful launch converts a proof-of-concept into recurring license and services revenue, directly supporting the ₹15 cr investment thesis in QeMFG.
5. US mortgage platform GCC - A letter of intent signed in December 2025 outlines a USD 1.5 million (\~₹13.5 cr) multi-phase AI mortgage platform build, with an initial USD 48,000 purchase order already received. Converting the LOI into a full contract would anchor a dedicated GCC delivery model and open a long-cycle US client relationship.
6. UK GCC and SaaS engagement - A LOI with a UK-based Ofgem-accredited energy-tech firm sets up a GCC engagement valued at GBP 360,000 in year one, with a separate exploratory investment LOI and a GBP 51,000 purchase order already in hand. The counterparty derives roughly 60% of revenue from recurring SaaS models, so a scaled engagement adds sticky, multi-year revenue.
7. QeNomy and QeCAD full consolidation - Ace acquired the remaining 60% stake in both QeNomy Digital LLP (₹14.4 cr) and QeCAD Studio LLP (₹2.9 cr) effective January 2025, financed from the rights issue. These entities contributed a combined ₹14 cr of revenue in the nine months to December 2024, and their full consolidation from Q4 FY25 lifts reported group revenue and operating profit.
8. Dubai subsidiary operational - Wholly owned QeDigital Gulf Software Services FZCO was incorporated in Dubai on 11 September 2025 to pursue digital transformation and IT services in the Middle East. A local entity with a dedicated mandate shortens the sales cycle in a region management has repeatedly flagged as a priority expansion market.