AXISCADES Technologies and Subsidiaries to Divest Engineering Services Unit to Akkodis Group

AXISCADES Technologies and Subsidiaries to Divest Engineering Services Unit to Akkodis Group​

AXISCADES Technologies Limited announced that its Board of Directors approved the transfer of its Engineering Services business, focusing on the Heavy Engineering, Automotive, and Energy Industries, to Akkodis group companies. The transaction involves AXISCADES Technologies Limited and its subsidiaries selling their respective units to Akkodis India Private Limited, Akkodis UK Limited, and Akkodis Inc.

The Board of Directors, in its meeting held on May 26, 2026, approved a multi-pronged sale of the business. These arrangements include:

• The sale by AXISCADES Technologies Limited to Akkodis India Private Limited, structured as a slump-sale going concern.
• The sale by Epcogen Private Limited to Akkodis India Private Limited, also on a slump-sale basis as a going concern.
• The transfer by AXISCADES UK Limited to Akkodis UK Limited, classified as a business transfer on a going concern basis.
• The sale by AXISCADES Inc., a material subsidiary, of its Engineering Services business (which comprises more than 20% of its total assets) to Akkodis Inc., structured as a business transfer on a going concern basis.

These transactions involve the disposition of the Engineering Services business operations within the Heavy Engineering, Automotive, and Energy Industries sectors.

Transaction Details and Financial Scope​

The sale was finalized on May 26, 2026. The aggregate consideration for the entire transaction is set at USD 30.63 million. This amount is payable through multiple tranches, detailed as follows:


The units involved are making significant contributions to the group's revenue and net worth. For the financial year ended March 31, 2025, the following financial details were recorded:


Additionally, the sellers' operational scale for FY 2024-25 was reported:

• AXISCADES Technologies Limited (Standalone): INR 39,798.05 Lakhs
• AXISCADES Technologies Limited (Consolidated): INR 10,30,72.37 Lakhs
• EPCOGEN Private Limited: INR 18,07,15,729
• AXISCADES, Inc.: INR 1,25,67,642
• AXISCADES UK Limited: INR 54,03,613

Corporate Strategy and Business Scope​

AXISCADES Technologies stated that the divestiture is aligned with the Company’s strategic objective of divesting its engineering services operations in the Heavy Engineering, Automotive, and Energy Industries. The move aims to realign its capital resources, allowing the Company and its subsidiaries to become more focused and efficient. Proceeds from the sale are intended to be utilized for technology- and capability-led acquisitions, manufacturing infrastructure, capacity scale-up, and strengthening the balance sheet.

The involved buyers are:

• Akkodis India Private Limited: Incorporated under Indian law, registered office in Bangalore.
• Akkodis UK Limited: Incorporated under the laws of England and Wales, registered office at 10 Bishops Square, London.
• Akkodis Inc.: Incorporated under the laws of England and Wales, registered office at 10 Bishops Square, London.

The transaction is stated to be not a related party transaction. The sale is expected to be completed within five months from the execution date, pending the fulfillment of all requisite conditions.

AXISCADES Stock Price Movement​

Shares of AXISCADES Technologies Limited are edging higher to ₹2060 as of 9:30 AM today, rallying 0.73% in live trading on a ₹15.00 gain. The stock is showing positive momentum, recording a volume of 18,664 shares in the live market.