[AXISCADES Technologies Limited](axiscades engineering technologies) has issued a postal ballot notice seeking shareholder approval for the slump sale of its engineering services businesses to Akkodis Group entities. The company proposes to transfer its Heavy Engineering, Automotive, and Energy businesses for an aggregate consideration of USD 30.63 million, and its Aerospace Industries business for USD 152.35 million. These transactions are part of a strategic shift towards an IP and manufacturing-led growth model. The remote e-voting process commences on June 28, 2026, and concludes on July 27, 2026.

Slump Sale of Heavy Engineering and Automotive Business

The Board approved the sale of the engineering services business in Heavy Engineering, Automotive, and Energy industries to Akkodis India Private Limited, Akkodis UK Limited, and Akkodis Inc. The aggregate consideration for this transfer is USD 30.63 million, payable in three tranches: USD 17.42 million at closing, USD 5.81 million deferred for 12 months, and an earnout of USD 7.4 million contingent on EBITDA performance by June 30, 2027. The valuation is based on a report by M/s. SSPA & Co., Chartered Accountants.

Transfer of Aerospace Engineering Services

Shareholders are asked to approve the transfer of the Aerospace Industries engineering services business to new subsidiaries to be incorporated in India and acquired in Switzerland. This business transfer is valued at USD 152.35 million, subject to post-closing adjustments. The transaction involves the transfer of assets and liabilities from the company and its subsidiaries, including Cades Studec Technologies (India) Private Limited, AXISCADES GmbH, and AXISCADES UK Limited, to new entities such as New India Co. and Overseas HoldCo.

Related Party Transactions and Divestment

The notice includes an ordinary resolution for material related party transactions with the new subsidiaries, involving an investment of up to CHF 12,500,000 in Overseas HoldCo. Additionally, a special resolution seeks approval for the divestment of the company's shareholding in New India Co. and Overseas HoldCo. in two tranches. The aggregate consideration for this divestment is up to USD 206.30 million, with a minimum of USD 153.72 million and an additional performance-linked consideration of USD 52.58 million.

Increase in Investment Limits

The company proposes to enhance the overall limit for investments, loans, guarantees, and securities under Section 186 of the Companies Act, 2013 from INR 750 Crore to INR 2,000 Crore. This increase is intended to provide the Board with the flexibility to pursue acquisitions in the Aerospace and ESAI segments and to support the incorporation of new subsidiaries as part of the proposed transactions.

Postal Ballot and E-Voting Details

The remote e-voting process commences at 9:00 AM IST on Sunday, June 28, 2026, and ends at 5:00 PM IST on Monday, July 27, 2026. Shareholders whose names appear in the Register of Members as of the cut-off date, Friday, June 19, 2026, are eligible to vote. The results of the postal ballot will be announced on or before Wednesday, July 29, 2026. The scrutinizer for the process is CS Pramod S. M. or CS Biswajit Ghosh of M/s. BMP & Co. LLP, Company Secretaries.

The promoter group of axiscades engineering technologies released a pledge on 4.5 lakh shares, equivalent to 1.06% of the company's total shareholding, on June 23.

Pledge Release Details

The following table summarises the key details of the pledge release event:

Significance of the Development

The release of pledged shares by a promoter group is a notable corporate action in the context of shareholding disclosures. Pledging of shares by promoters is a common practice used to raise funds against their equity holdings, and the release of such pledges indicates a reduction in the encumbrance on the promoter's stake. The release of 4.5 lakh shares, constituting 1.06% of the total shareholding, reflects a change in the promoter group's financial arrangements with respect to their holdings in Axiscades Tech.