About Accelyst Solutions Private Limited
Data last updated:
Accelyst Solutions Private Limited was a private limited company based in Mumbai, Maharashtra, India, operated as a subsidiary of Axis Bank Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the online payment gateways segment of the financial services sector. It was incorporated on 29 July 2008.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U72900MH2008PTC185202. Its GSTIN is 27AAHCA2192H1CZ (Maharashtra). The company held 6 GST registrations, of which 3 are active.
The company had an authorised share capital of ₹1,000 Cr and a paid-up capital of ₹679.68 Cr. It was led by directors Sameer Bhujanga Shetty and Avinash Raghavendra.
Its last annual general meeting (AGM) was held on 24 September 2020, and its latest financial statements are for the year ended 31 March 2020. The registered office was at 1st Floor Corporate Park II Sion – Trombay Road Near Swastik Chamber Chembur, Mumbai, Maharashtra, India – 400071.
As per the financials filed for FY 2020, the company reported a revenue of ₹57.23 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹9.64 Cr (net margin 16.8%) and EBITDA of -₹12.52 Cr (EBITDA margin -21.9%). Revenue has grown at a compounded annual rate (CAGR) of 11% over three years and 10% over five years.
The company had about 125 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 2 brands: FreeCharge and Freecharge. As per MCA filings, the company had satisfied charges of ₹23 Cr on record. Court records list 3 cases involving the company, including 2 filed by the company and 1 filed against it; 2 cases are pending. The company has 8 deals on record (4 funding rounds, 4 secondary share transfers), with disclosed funding of ₹362.06 Cr; the latest was in October 2017. Its 10 peer companies in the BFSI industry (Payment Gateways) are compared by revenue, 5 larger and 5 smaller; the largest is Singlepe Private Limited.
The last known website on record is freecharge.com.
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- Registered Address1st Floor Corporate Park II Sion – Trombay Road Near Swastik Chamber Chembur, Mumbai, Maharashtra, India – 400071
- IndustryFinancial Services, Online Payment Gateways
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
- One PDF report, delivered after checkout
Business Activity of Accelyst Solutions Private Limited
The main business activity of Accelyst Solutions is financial and insurance service. In detail, this covers other financial activities.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| K | Financial and insurance Service | K8 | Other financial activities | Locked |
Business activity turnover details
Turnover share and past changes in activity are in the company report.
- Turnover contribution
- Historical classifications
- Filing-level activity changes
Verified entity values are shown only after access is granted.
Financials of Accelyst Solutions Private Limited FY 2020 filings available
Accelyst Solutions Private Limited reported revenue of ₹57.23 Cr (up 235% YoY) for FY 2020.
Compounded Annual Growth Rate (CAGR) of Accelyst Solutions Private Limited
Revenue has grown at a compounded annual rate (CAGR) of 10% over five years, including 235% growth in the latest year. EBITDA rose 84% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary of Accelyst Solutions Private Limited
| Metrics | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | •••• | •••• | •••• | •••• | •••• |
| Other Income | •••• | •••• | •••• | •••• | •••• |
| Total Revenue | •••• | •••• | •••• | •••• | •••• |
| Cost of Materials Consumed | •••• | •••• | •••• | •••• | •••• |
| Employee Benefit Expense | •••• | •••• | •••• | •••• | •••• |
| Finance Costs | •••• | •••• | •••• | •••• | •••• |
| Depreciation and Amortisation | •••• | •••• | •••• | •••• | •••• |
| Other Expenses | •••• | •••• | •••• | •••• | •••• |
| Total Expenses | •••• | •••• | •••• | •••• | •••• |
| EBITDA | -₹12.52 Cr | •••• | •••• | •••• | •••• |
| Profit Before Tax | •••• | •••• | •••• | •••• | •••• |
| Tax Expense | •••• | •••• | •••• | •••• | •••• |
| Net Profit (PAT) | ₹9.64 Cr | •••• | •••• | •••• | •••• |
| Balance Sheet | |||||
| Share Capital | •••• | •••• | •••• | •••• | •••• |
| Reserves and Surplus | •••• | •••• | •••• | •••• | •••• |
| Net Worth (Total Equity) | •••• | •••• | •••• | •••• | •••• |
| Long-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Short-term Borrowings | •••• | •••• | •••• | •••• | •••• |
| Trade Payables | •••• | •••• | •••• | •••• | •••• |
| Total Liabilities | •••• | •••• | •••• | •••• | •••• |
| Fixed Assets | •••• | •••• | •••• | •••• | •••• |
| Investments | •••• | •••• | •••• | •••• | •••• |
| Inventories | •••• | •••• | •••• | •••• | •••• |
| Trade Receivables | •••• | •••• | •••• | •••• | •••• |
| Cash and Bank Balance | •••• | •••• | •••• | •••• | •••• |
| Total Assets | •••• | •••• | •••• | •••• | •••• |
Financial Ratios of Accelyst Solutions Private Limited
| Metrics | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -21.9% | •••• | •••• | •••• | •••• |
| Net Profit Margin | 16.8% | •••• | •••• | •••• | •••• |
| Return on Equity (ROE) | •••• | •••• | •••• | •••• | •••• |
| Return on Capital Employed (ROCE) | •••• | •••• | •••• | •••• | •••• |
| Return on Assets (ROA) | •••• | •••• | •••• | •••• | •••• |
| Liquidity and Debt | |||||
| Current Ratio | •••• | •••• | •••• | •••• | •••• |
| Quick Ratio | •••• | •••• | •••• | •••• | •••• |
| Debt-to-Equity Ratio | •••• | •••• | •••• | •••• | •••• |
| Interest Coverage Ratio | •••• | •••• | •••• | •••• | •••• |
| Efficiency and Growth | |||||
| Asset Turnover | •••• | •••• | •••• | •••• | •••• |
| Receivable Days | •••• | •••• | •••• | •••• | •••• |
| Payable Days | •••• | •••• | •••• | •••• | •••• |
| Inventory Days | •••• | •••• | •••• | •••• | •••• |
| Revenue Growth | •••• | •••• | •••• | •••• | •••• |
| Net Profit Growth | •••• | •••• | •••• | •••• | •••• |
Paid data: the figures shown as dots are available after purchase of the company report. Figures as filed with the MCA in Form AOC-4. The full year-wise statements and ratios of Accelyst Solutions are in the company report.
Financial statements from 2015
Earlier years and trend charts are in the company report.
- Income statements
- Balance sheets
- Cash-flow statements
- Ratios and benchmarks
Verified entity values are shown only after access is granted.
Peer Comparison of Accelyst Solutions Private Limited
Accelyst Solutions Private Limited is compared with the companies closest to it by revenue in the BFSI industry (Payment Gateways). Revenue, net profit, margin and growth of each company are in the company report.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Singlepe Private Limited | •••• | •••• | •••• | •••• | - | Bhopal, Madhya Pradesh, India |
| Wu Technology Engineering Services Private Limited | •••• | •••• | •••• | •••• | 196 | Pune, Maharashtra, India |
| Jio Payment Solutions Limited | •••• | •••• | •••• | •••• | 93 | Mumbai, Maharashtra, India |
| Paymark Payment Technologies & Services Private Limited | •••• | •••• | •••• | •••• | 10 | Kolkata, West Bengal, India |
| Tagit (India) Private Limited | •••• | •••• | •••• | •••• | - | Chennai, Tamil Nadu, India |
| Accelyst Solutions Private Limited this company | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Payripe Solutions Private Limited | •••• | •••• | •••• | •••• | - | Ballabgarh, Haryana, India |
| 1Pay Mobileware Private Limited | •••• | •••• | •••• | •••• | 73 | Mumbai, Maharashtra, India |
| Futuretek Commerce Private Limited | •••• | •••• | •••• | •••• | 250 | Jaipur, Rajasthan, India |
| Storehunt Technologies Private Limited | •••• | •••• | •••• | •••• | - | Mumbai, Maharashtra, India |
| Digivouchers India Private Limited | •••• | •••• | •••• | •••• | - | Delhi, India |
Peers are the five companies nearest above and the five nearest below Accelyst Solutions by revenue in the BFSI industry (Payment Gateways), from the latest filed financials of each company. Revenue, net profit, margin and growth of each peer are in the company report.
Auditor Details of Accelyst Solutions Private Limited
Accelyst Solutions Private Limited is audited by S.R. BATLIBOI & CO. LLP for the financial year 2019.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| S.R. BATLIBOI & CO. LLP | Locked | Locked | Locked |
Complete auditor history
Appointment and cessation dates and past auditor changes are in the company report.
- Appointment status
- Appointment dates
- Cessation dates
- Auditor changes
Verified entity values are shown only after access is granted.
Board of Directors and KMP of Accelyst Solutions Private Limited
Accelyst Solutions Private Limited currently reports 2 directors and 1 key managerial person. 19 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sameer Bhujanga Shetty | Director | 30 Aug 2019 | 7 Years 1 Months | As last reported |
| Avinash Raghavendra Also directs: Freecharge Payment Technologies Private Limited | Additional Director | 28 Jan 2021 | 5 Years 8 Months | As last reported |
| Rameshwar Prasad Gupta Also directs: Ramya Consulting LLP, Tenb Fintech Private Limited, Ambak Fintech Private Limited and 1 more | Ceo | 14 Jul 2020 | 6 Years 2 Months | As last reported |
Ownership and Shareholding of Accelyst Solutions Private Limited
Shareholding and ownership data
Promoter, institutional, public and beneficial ownership figures are in the company report.
- Ownership categories
- Historical changes
- Group structure
- FII and DII holdings
Verified entity values are shown only after access is granted.
Charges & Borrowings of Accelyst Solutions Private Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 30 Jul 2014 | Svb India Finance Private Limited | ₹18 Cr | Satisfied |
| 03 Jul 2013 | Svb India Finance Private Limited | ₹5 Cr | Satisfied |
Total charge records: 2 View all charges
Deals & Funding of Accelyst Solutions Private Limited
Accelyst Solutions Private Limited has 8 deals on record (4 funding rounds, 4 secondary share transfers), with disclosed funding of ₹362.06 Cr; the latest was in October 2017.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Oct 2017 | Secondary share transfer | Undisclosed | Buyer: Axis Bank Limited Seller: Acevector Limited |
| Apr 2017 | Secondary share transfer | Undisclosed | Buyer: Axis Bank Limited & Jairam Sridharan Seller: an individual |
| Jan 2017 | Secondary share transfer | Undisclosed | Buyer: Acevector Limited , an individual Seller: Accelyst Pte Ltd, Tecom Electronics Private Limited |
| May 2015 | Funding round | ₹164.43 Cr | Investors: Accelyst Pte Ltd |
| Sep 2011 | Secondary share transfer | Undisclosed | Buyer: Accelyst Pte Ltd Seller: Tecom Electronics Private Limited , an individual |
Full deal history
All 8 deals with amounts, valuations, instruments and every party are in the company report.
- Every funding round and share transfer
- Amounts and valuations
- Investors, buyers and sellers
- Instruments and deal dates
Verified entity values are shown only after access is granted.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal Cases of Accelyst Solutions Private Limited
Accelyst Solutions Private Limited has 3 court cases on record: 2 filed by Accelyst Solutions, 1 filed against it. 2 cases are pending and 1 is disposed. Status as checked between 21 Sep 2026 and 02 Oct 2026.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| NCLAT | 2 | 0 | 2 |
| District courts | 1 | 1 | 0 |
Cases on record (3 of 3)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, New Delhi | Interim or miscellaneous application | Filed by the company against an individual | Pending |
| NCLAT, New Delhi | Company appeal | Filed by the company against individuals | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss casess) | Filed against the company by Municipal Corporation H / East Ward, Mumbai | Disposed |
Full case history
All 3 cases with case numbers, court, year-wise trend, opposite parties and decision dates are in the company report.
- Every case with its case number
- Year-wise trend
- Opposite parties
- Decision dates and orders
Verified entity values are shown only after access is granted.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Associated Brands with Accelyst Solutions Private Limited
Accelyst Solutions operates two associated brands: FreeCharge and Freecharge. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Digital wallet services for bill payments and recharges are facilitated. | freecharge.in | |
| Digital payments, recharges, and financial services are provided by Freecharge for consumers and businesses. | freecharge.com |
Employees and EPFO Compliance at Accelyst Solutions Private Limited
Accelyst Solutions Private Limited has a workforce of 125 employees as of Apr 08, 2024.
Employee and EPFO history
Monthly headcount, contribution history and filing status are in the company report.
- Monthly headcount
- PF contributions
- ECR filing status
- Establishment history
Verified entity values are shown only after access is granted.
News related to Accelyst Solutions Private Limited
Recent Activity on Accelyst Solutions Private Limited
Accelyst Solutions Private Limited has 21 board changes on record since 2015: 3 appointments and 18 cessations. The latest: Asha Parthasarathi Kharga ceased to be Director on 05 Mar 2021.
16 earlier events are listed in the company report.
Credit Ratings, Litigation & Regulatory Alerts for Accelyst Solutions Private Limited
Credit ratings, litigation, and regulatory alerts
Credit ratings, court records and regulatory alerts are in the company report.
- Rating history
- Court and tribunal cases
- Regulatory alerts
- Director-linked violations
Verified entity values are shown only after access is granted.
MSME Payment Delays by Accelyst Solutions Private Limited
MSME payment history
Amounts due to small suppliers, the reasons given and MSME-1 filings are in the company report.
- Outstanding amounts
- Delay periods and reasons
- MSME-1 filing history
- Vendor payment signals
Verified entity values are shown only after access is granted.
Subsidiaries & Group Companies of Accelyst Solutions Private Limited
Corporate group structure
Parent, subsidiary, associate and joint venture records with holdings are in the company report.
- Parent company
- Subsidiaries and ownership
- Associates and joint ventures
- Entity investments
Verified entity values are shown only after access is granted.
GST Compliance of Accelyst Solutions Private Limited
Accelyst Solutions has 6 GST registrations: 3 active and 3 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAHCA2192H1CZ | Maharashtra | Active | 06 Nov 2018 |
| 27AAHCA2192H2CY | Maharashtra | Active | 06 Nov 2018 |
| 06AAHCA2192H1C3 | Haryana | Active | 03 Nov 2018 |
GST registrations and filing compliance
State-wise GST registrations, return filing status and HSN or SAC codes are in the company report.
- GSTIN registrations
- State-wise filing status
- HSN and SAC details
- Tax jurisdiction records
Verified entity values are shown only after access is granted.
MCA Filings & Documents of Accelyst Solutions Private Limited
MCA filings and documents
Filed forms, annual returns, financial statements and charge filings with their dates are in the company report.
- Incorporation documents
- Annual returns and statements
- Charge filings
- Complete filing index
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Accelyst Solutions Private Limited
Accelyst Solutions has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Accelyst Solutions was a private limited company based in Mumbai, Maharashtra, India. The company worked in online payment gateways, within the financial services industry. It was incorporated on 29 July 2008 and is registered under CIN U72900MH2008PTC185202. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Accelyst Solutions was incorporated on 29 July 2008. It is registered with the Registrar of Companies, Mumbai.
Accelyst Solutions had 3 directors and KMP:
- Sameer Bhujanga Shetty - Director
- Avinash Raghavendra - Additional Director
- Rameshwar Prasad Gupta - Ceo
The CIN (Corporate Identification Number) of Accelyst Solutions is U72900MH2008PTC185202. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Accelyst Solutions is at 1st Floor Corporate Park II Sion – Trombay Road Near Swastik Chamber Chembur, Mumbai, Maharashtra, India – 400071.
Accelyst Solutions can be reached through the website freecharge.com. Its registered office is in Mumbai, Maharashtra, India.
Accelyst Solutions reported revenue of ₹57.23 Cr for FY 2020 (up 235% YoY).
Accelyst Solutions has an authorised share capital of ₹1,000 Cr and a paid-up capital of ₹679.68 Cr.
Accelyst Solutions reported a net profit of ₹9.64 Cr (net margin 16.8%) and EBITDA of -₹12.52 Cr (EBITDA margin -21.9%) for FY 2020, as per its filed financial statements.
The GSTIN of Accelyst Solutions is 27AAHCA2192H1CZ, registered in Maharashtra. The company has 6 GST registrations in all, of which 3 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAHCA2192H2CY (Maharashtra), 06AAHCA2192H1C3 (Haryana).