AXISCADES Completes ₹39.42 Crore Land Acquisition in Telangana for New Defence Manufacturing Unit

Technology and engineering solutions provider AXISCADES Technologies Limited (NSE: AXISCADES | BSE: 532395 | CIN: L72200KA1990PLC084435) has announced the successful completion of a land acquisition measuring 32,847 square meters in Telangana for a total consideration of ₹39.4164 crore.

Transaction Overview & Location Details

Acquired Property: Plot/land parcel spanning 32,847 Sq. Mts.

Location: IP Hardware Park Phase II, Mamidipally village, Balapur Mandal, Rangareddy District, Telangana.

Seller Entity: Telangana State Industrial Infrastructure Corporation (TSIIC).

Total Transaction Value: ₹39,41,64,000 (Rupees Thirty-Nine Crore Forty-One Lakh Sixty-Four Thousand only).

Strategic Purpose: Defence Manufacturing Expansion

The land has been acquired to establish a specialized Defence Hardware Manufacturing & Article Integration unit (operating without fuel and explosives).

AXISCADES confirmed that the acquisition adheres strictly to the agreed terms with TSIIC. The transaction does not involve any related parties or promoter groups, nor does it fall under related party transactions or involve any share issuances or board nominee rights.

The strategic land parcel in Telangana's hardware corridor will enable AXISCADES to expand its manufacturing footprint and defense integration capabilities.

Shares of AXISCADES Technologies Limited was last trading in BSE at Rs. 1560.65 as compared to the previous close of Rs. 1545.40. The total number of shares traded during the day was 4766 in over 391 trades.

The stock hit an intraday high of Rs. 1592.20 and intraday low of 1546.00. The net turnover during the day was Rs. 7434243.00.

Source : Equity Bulls

Keywords

AXISCADESTechnologies INE555B01013 LandAcquisition Telangana