AXISCADES Technologies Incorporates XIDA Deeptech Private Limited As Step-Down Subsidiary

Mumbai: AXISCADES Technologies Limited (ACTL) announced on October 6, 2026, the incorporation of a new step-down subsidiary, XIDA DEEPTECH PRIVATE LIMITED. The new entity was incorporated in India on October 5, 2026.

Subsidiary Details

XIDA DEEPTECH PRIVATE LIMITED will operate as a step-down subsidiary of ACTL through its holding company, XIDA PRIVATE LIMITED. ACTL will exercise indirect control over the new subsidiary.

Business Focus

The newly incorporated entity will provide engineering, design, manufacturing, technology, consulting, and technical services. Its primary focus will be on the electronics, semiconductor, artificial intelligence, and deep tech industries.

Shareholding and Control

ACTL holds a 0% direct shareholding in XIDA DEEPTECH PRIVATE LIMITED. However, as the ultimate holding company, ACTL will maintain indirect control over the step-down subsidiary. No shares have been subscribed by ACTL in the new entity.

Consideration and Approvals

The incorporation did not involve any cash consideration or share swap. The company also stated that no governmental or regulatory approvals were required for the incorporation of XIDA DEEPTECH PRIVATE LIMITED.

Regulatory Compliance

Sonal Dudani, Company Secretary and Compliance Officer, signed the disclosure. The announcement complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.