The Board approved the acquisition of 51% stake in Fore Solutions Private Limited and signing of Share Purchase Agreement pursuant to which Fore Solutions Limited becomes the subsidiary ....
Awaiting price reaction for this filing.
Axentra Corp Limited's board has approved acquisition of 51% equity stake in Fore Solutions Private Limited through a Share Purchase Agreement. The company will purchase 10,25,100 equity shares for Rs. 38,00,52,000 (approximately Rs. 38.05 crore) in cash. Fore Solutions is a technology and IT-enabled services company incorporated in 2001, headquartered in Chandigarh. The target company reported turnover of Rs. 127.10 crore for FY 2025-26, up from Rs. 122.29 crore in FY 2024-25 and Rs. 58.78 crore in FY 2023-24. The acquisition is not a related party transaction, and Axentra will have rights to appoint nominee directors on the target company's board. The deal is expected to complete by June 15, 2026.
This acquisition marks Axentra's entry into the technology and AI services space, diversifying from its housing development roots. The all-cash deal could be positive for shareholders seeking growth in the tech sector, though the significant cash outlay may impact the company's balance sheet.