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AXISCADES TECHNOLOGIES LIMITED — M&A Activity 2026
May 26, 2026
61656_rns_2026-05-26_7a46860f-23ee-4533-ae93-54cea7d5f481.pdf
M&A Activity
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AXISCADES
May 26, 2026
The Manager
Dppt. Of Corporate Services
BSE Limited
Phirozee Jeejeebhoy Tower, Dalal Street
Mumbai 400 001
BSE Scrip Code: 532395
Listing Department
National Stock Exchange of India Limited
Exchange Plaza, 5 Floor, Plot C/1, G Block
Bandra – Kurla Complex, Bandra(E),
Mumbai 400 051
NSE Symbol: AXISCADES
Dear Sir,
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR Regulations") read with Schedule III of the LODR Regulations, we, AXISCADES Technologies Limited ("Company"), wish to inform that the Board of Directors in its meeting held today i.e., May 26, 2026, has approved the transfer of the business comprising the provision of Engineering Services in the Heavy Engineering, Automotive, and Energy Industries ("Transferring Business") by the Company and its subsidiaries, Epcogen Private Limited, AXISCADES UK Limited and AXISCADES Inc., to Akkodis India Private Limited, Akkodis UK Limited and Akkodis Inc. respectively ("Buyers").
In this regard, the Board approved the following:
(a) The sale by the Company of its Transferring Business to Akkodis India Private Limited, on a slump-sale basis as defined in Section 2(103) of the Indian Income-tax Act, 2025, as a going concern;
(b) The sale by Epcogen Private Limited of its Transferring Business to Akkodis India Private Limited, on a slump-sale basis as defined in Section 2(103) of the Indian Income-tax Act, 2025, as a going concern;
(c) The sale by AXISCADES UK Limited of its Transferring Business to Akkodis UK Limited as a business transfer on a going concern basis;
(d) The sale by AXISCADES Inc. (a material subsidiary of the Company) of its Transferring Business (which constitutes more than 20% of its total assets) to Akkodis Inc. as a business transfer on a going concern basis; and
(e) The execution of definitive documents to effect such sale which provide, inter alia, the understanding between the parties thereto with respect to the aforementioned sale of the Transferring Business conducted by the Company and its subsidiaries to the Buyers and related matters.
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
AXISCADES
The sale of the Transferring Business is subject to completion of conditions precedent, including regulatory approvals and approvals of the shareholders of the Company, to the extent required.
The relevant details pertaining to the above, as required under Regulation 30 of the LODR Regulations, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023, and last updated on January 30, 2026 is enclosed as "Annexure-I".
The meeting of Board of Directors commenced at 7:00 AM (IST) and concluded at 8:28 AM (IST).
Kindly take the above information on record.
Yours truly,
For AXISCADES Technologies Limited
Sonal Dudani
Digitally signed by Sonal Dudani
Date: 2026.05.26 08:33:36 +05'30'
Sonal Dudani
Company Secretary & Compliance Officer
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
AXISCADES
Annexure-I
Details which a listed entity needs to disclose for sale or disposal of any unit(s), division(s), whole or substantially the whole of the undertaking(s) or subsidiary of the listed entity
| Sl. No. | Particulars | Details | |
|---|---|---|---|
| 1 | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate Company of the listed entity during the last financial year. | For the financial year ended March 31, 2025, of the Company | |
| Turnover/Revenue/Income | INR (in Million) | ||
| Amount | 2,493 | ||
| % | 24% | ||
| 2 | Date on which the agreement for sale has been entered into. | May 26, 2026 | |
| 3 | The expected date of completion of sale/disposal. | Subject to completion and waiver of the conditions precedent, including obtaining any statutory and regulatory approvals, by the parties and in accordance with the provisions of the definitive documents, the transaction is expected to be completed within 5 (five) months from the execution date. | |
| 4 | Consideration received from such sale/disposal. | The aggregate consideration for the transaction is USD 30.63 million payable as follows: (i) an aggregate consideration of USD 17.42 million payable at the time of closing, subject to any adjustments in terms of the definitive documents; (ii) an aggregate deferred consideration of USD 5.81 million payable at the end of 12 months from the closing, where such |
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
AXISCADES
| | | deferred consideration is not a contingent or conditional payment; and
(iii) an earnout payment of USD 7.4 million, contingent on the EBIDTA of the Transferring Business meeting certain thresholds at the end of June 30, 2027. |
| --- | --- | --- |
| 5 | Brief details of buyers and whether any of the buyers belong to the promoter/ promoter group/group companies. If yes, details thereof. | The buyers are:
(i) Akkodis India Private Limited, a Company incorporated and existing under the laws of India, having corporate identification number U74110KA2020FTC132692 and its registered office at Doddanekkundi II Phase Industrial Area, Mahadevapura Village, Krishnarajapuram Hobli, Summit Tower-B, Brigade Metropolis, 4th Floor (portion), Bangalore, 560048, India.
(ii) Akkodis UK Limited, a Company incorporated and existing under the laws of England and Wales, having its registered office at 10 Bishops Square, London, E1 6EG, United Kingdom.
(iii) Akkodis Inc., a Company incorporated and existing under the laws of England and Wales, having its registered office at 10 Bishops Square, London, E1 6EG, United Kingdom.
None of the buyers belong to promoter/ promoter group/ group companies. |
| 6 | Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length”? | The transaction is not a related party transaction. |
| 7 | Whether the sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations. | The transaction does not form part of any Scheme of Arrangement. The Company will seek approval from the shareholders under Regulation 37A of the LODR Regulations. |
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
AXISCADES
| Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger | ||
|---|---|---|
| 8 | Name of the entity(ies) forming part of the slump sale, details in brief such as, size, turnover etc. | Seller: |
| - AXISCADES Technologies Limited, is a public limited Company, incorporated under the provisions of the Companies Act, 1956, having its registered office situated at Block C, Second Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India. The Equity shares of the Company are listed on BSE Ltd. and National Stock Exchange of India Ltd. The total revenue of the Company from operations/turnover as per the audited financial statement for FY 2024-25 | ||
| 1. On a standalone basis is INR 39,798.05 Lakhs; | ||
| 2. On a consolidated basis is INR 10,30,72.37 Lakhs. | ||
| - EPCOGEN Private Limited, a private limited Company, incorporated under the provisions of the Companies Act, 2013, having its registered office situated at Block C, Fifth Floor, Kirloskar Business Park, Bengaluru - 560024, Karnataka, India, is an Engineering Service Company, performing Pre-Bid Engineering, FEED & Detailed Engineering, primarily for the Oil & Gas, Refineries, Petrochemicals and Power Projects. The total revenue of the Company from operations/turnover as per the audited financial statement for FY 2024-25 is INR 18,07,15,729. |
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
AXISCADES
| | | • AXISCADES, Inc. operates in the business of Engineering Design Services. The registered office of the Company is located at 3008, W. Willow Knolls, Dr. Peoria, Illinois- 61614 in the United States of America. The total revenue of the Company from operations/turnover as per the audited financial statement for FY 2024-25 is INR 1,25,67,642.
• AXISCADES UK Limited operates in the business of Engineering Design Services. The Registered office is located in the Pump house 15, Narborough Wood Park, Enderby, Leicester LE19 4XT, United Kingdom. The total revenue of the Company from operations/turnover as per the audited financial statement for FY 2024-25 is INR 54,03,613.
Please refer to S.L. No. 5 for the details of the Buyers. |
| --- | --- | --- |
| 9 | Whether the transaction would fall within related party transactions? If yes, whether the same is done at “arm’s length. | The proposed transaction is not a related party transaction. |
| 10 | Area of business of the entity(ies) | Sellers
(i) AXISCADES Technologies Limited is a leading, end-to-end technology, product and solutions provider aiding the creation of innovative, sustainable, and safer products worldwide in the Aerospace, Defence and ESAI domains.
(ii) EPCOGEN Private Limited, is an Engineering Service Company, |
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
AXISCADES
| | | performing Pre-Bid Engineering, FEED & Detailed Engineering, primarily for the Oil & Gas, Refineries, Petrochemicals and Power Projects.
(iii) AXISCADES, Inc. operates in the business of Engineering Design Services.
(iv) AXISCADES UK Limited operates in the business of Engineering Design Services.
Buyers
(i) Akkodis India Private Limited is engaged in the business of providing software development services and HR and other support services to related parties and third parties.
(ii) Akkodis Inc. is engaged in the field of engineering and research & development services as well as IT consulting.
(iii) Akkodis UK Limited is engaged in the field of engineering and research & development services as well as IT consulting. |
| --- | --- | --- |
| 11 | Rationale for the slump sale | The transaction is in line with the Company's strategic objective of divesting engineering services in the Heavy Engineering, Automotive, and Energy Industries businesses operations and realigning its capital resources. Further, this would help the Company and its subsidiaries to be more focused, efficient and strategically aligned Company, which would in turn help in unlocking value for the shareholders of the Company.
The Company intends to deploy the proceeds towards technology- and capability-led acquisitions, manufacturing infrastructure and |
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com
AXISCADES
| capacity scale-up and strengthening the balance sheet and growth flexibility. | ||
|---|---|---|
| 12 | In case of cash consideration – amount or otherwise share exchange ratio | Please refer to the response provided in S.L. No. 4 provided above. |
| 13 | Brief details of change in shareholding pattern (if any) of listed entity | There will be no change in the shareholding pattern of the Company. |
For AXISCADES Technologies Limited
Sonal Dudani
Digitally signed by
Sonal Dudani
Date: 2026.05.26
08:33:55 +05'30'
Sonal Dudani
Company Secretary & Compliance Officer
AXISCADES Technologies Limited
(formerly AXISCADES Engineering Technologies Limited)
CIN No.: L72200KA1990PLC084435
Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA
Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: [email protected] | www.axiscades.com