Acquisition of the 51% equity stake in the Fore Solutions Private Limited pursuant to signing and execution of the Share Purchase Agreement.
Awaiting price reaction for this filing.
Axentra Corp Limited's board has approved the acquisition of 10,25,100 equity shares (51% stake) in Fore Solutions Private Limited for a cash consideration of Rs. 38,00,52,000 (approx. Rs. 38.05 Crores). The target company, incorporated in 2001 and based in Chandigarh, operates in technology services, IT-enabled services, digital transformation, and AI-driven solutions. Fore Solutions reported strong growth with turnover rising from Rs. 58.78 Crores in FY2024 to Rs. 127.10 Crores in FY2026 (tentative). The acquisition is intended to achieve strategic goals and business expansion. The transaction is not a related party deal and is subject to applicable statutory and regulatory approvals, with an indicative completion target of 15 June 2026.
This acquisition marks Axentra's strategic entry into the technology and AI services space, providing the company with a growing IT business generating over Rs. 127 Crores in turnover. Shareholders should monitor whether the acquisition is EPS accretive given the Rs. 38+ Crore outlay.