AXISCADES Technologies Completes Acquisition of Land from Telangana State Industrial Infrastructure Corporation
AXISCADES Technologies Limited has completed the acquisition of a significant plot of land from the Telangana State Industrial Infrastructure Corporation (TSIIC). The transaction involves a parcel of land measuring 32,847 Sq. Mts, situated at IP Hardware Park Phase II, Mamidipally village in Balapur Mandal, Rangareddy District, Telangana.The acquisition was finalized with TSIIC according to the agreed terms and conditions. AXISCADES Technologies Limited intends to use this land for setting up a unit focused on 'Defence Hardware Manufacturing & Article integration unit (without fuel & explosives)'.
Details of the transaction confirm that the total consideration paid for the land parcel amounted to Rs. 39,41,64,000/-. The company confirmed that the acquisition is an arm's length transaction and that there is no shareholding in the seller entity.
Key aspects of the agreement between AXISCADES Technologies Limited (Buyer) and Telangana State Industrial Infrastructure Corporation (Seller) are summarized below:
| Particulars | Details |
|---|---|
| Transaction Purpose | Purchase of land for setting up a unit for Defence Hardware Manufacturing & Article integration. |
| Land Size | 32,847 Sq. Mts. |
| Total Consideration | Rs. 39,41,64,000/- |
| Relationship Status | The transaction is not a related party transaction and parties are unrelated to the promoter group. |
AXISCADES Stock Price Movement
Shares of AXISCADES Technologies Limited are edging higher to ₹1564.1 as of 12:06 PM today, having climbed 0.11% in trading activity. The stock shows brisk intraday interest, with 53,846 shares trading and the price remaining well within its established range from ₹1535.1 to ₹1583.3.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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