Axentra Corp Limited has approved the acquisition of a 51% equity stake in Fore Solutions Private Limited for ₹38,00,52,000 to expand its business operations and achieve strategic goals. The Board of Directors approved the purchase of 10,25,100 equity shares from selling shareholders Mr. Manu Mehta and Ms. Arti Mehta through a Share Purchase Agreement (SPA). The acquisition is subject to applicable statutory and regulatory approvals and is expected to be completed by June 15, 2026.

The transaction involves a cash consideration for shares of INR 10 each. Fore Solutions Private Limited, incorporated on July 5, 2001, operates in the technology services sector, providing IT-enabled services, digital transformation solutions, and AI-driven services. The target entity reported a turnover of ₹127.10 crore for the year ended March 31, 2026, based on unaudited accounts.

Axentra's Board has authorized Mr. Vinoth Kumar Mohanadas and Mr. Yasiru Lelwala to finalize and execute the SPA and other necessary documents. The company stated that the acquisition is not a related party transaction and does not involve any interest from the promoter or group companies. The acquirer will be entitled to appoint nominee directors to the board of Fore Solutions as part of the agreement.

The turnover of Fore Solutions has grown over the past three years, rising from ₹58.78 crore in 2023-2024 to ₹122.29 crore in 2024-2025. The acquisition aligns with Axentra's strategy to enter new business segments and leverage the target entity's capabilities in the technology and AI space.

Financial Details of Fore Solutions

Transaction Overview

Axentra Corp Limited has fulfilled its quarterly regulatory obligations by submitting a confirmation certificate under SEBI Depositories Regulations for the quarter ended March 31, 2026. The company, formerly known as Dugar Housing Developments Limited, filed the mandatory compliance document with BSE Limited on April 7, 2026.

Regulatory Compliance Certificate

The confirmation certificate was issued under Regulation 74(5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. Company Secretary and Compliance Officer Manisha Sharma submitted the document to BSE Limited, referencing the company's scrip code 511634.

Registrar Confirmation

Cameo Corporate Services Limited, serving as the company's Registrar & Share Transfer Agent, issued the certificate confirming proper handling of dematerialisation processes during the quarter. The RTA confirmed that securities received from depository participants for dematerialisation were properly processed and confirmed to the depositories within stipulated timeframes.

The certificate validates that security certificates received for dematerialisation were mutilated and cancelled after due verification by depository participants. Additionally, the names of depositories were substituted in the register of members as registered owners within the regulatory time limits.

Corporate Details

Axentra Corp Limited operates under CIN L62013TN1992PLC023689 and maintains its registered office at Dugar Towers, Marshalls Road Egmore, Chennai, Tamil Nadu. The company's transformation from Dugar Housing Developments Limited reflects its evolving business focus, with operations now accessible through www.Axentracorp.ai .

The quarterly submission demonstrates the company's commitment to maintaining regulatory compliance and transparent reporting practices as required under SEBI regulations for listed entities.