Acquisition

October 14, 2026 The Manager Listing Department Dept. of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot C/1, G Block Phiroze Jeejeebhoy Tower, Dalal Street Bandra – Kurla Complex, Bandra (E), Mumbai 400 001 Mumbai 400 051 BSE Scrip Code: 532395 NSE Symbol: AXISCADES Dear Sir/Madam, Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Acquisition of the business assets of ITSJ Group, Inc. by XIDA Inc., a step-down subsidiary of the Company Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) read with Schedule III thereto, we wish to inform you that the Board of Directors of the Company, at its meeting held today, i.e., October 14, 2026, has approved, in principle, the acquisition by XIDA Inc. (formerly Mistral Solutions Inc.), a step-down subsidiary of the Company incorporated in the State of Delaware, USA (“XIDA”), of substantially all the business assets of ITSJ Group, Inc., a Delaware corporation with its principal place of business in San Jose, California, USA (“ITSJ”), by way of an asset purchase (the “Proposed Transaction”). The Proposed Transaction is subject to the execution of an Asset Purchase Agreement among XIDA, ITSJ and its promoter, and to the satisfaction of the conditions precedent set out therein. XIDA is not acquiring any shares of ITSJ, and ITSJ will not become a subsidiary of the Company or of XIDA. The aggregate consideration for the Proposed Transaction shall not exceed US$ 7.0 million (United States Dollars Seven Million only), comprising cash, restricted shares of XIDA and a performance-linked earn-out, as detailed in Annexure-I. The relevant details pertaining to the above, as required under Regulation 30 of the Listing Regulations, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023, and last updated on January 30, 2026, are enclosed as “Annexure-I”. AXISCADES Technologies Limited (formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435 Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.com | www.axiscades.com The Company will make further disclosures on the execution of the Asset Purchase Agreement, on completion of the Proposed Transaction and on any material development in the interim, in accordance with Regulation 30 of the Listing Regulations. The meeting of the Board of Directors commenced at 7:00 PM (IST) and concluded at 8:13 PM (IST). Kindly take the above information on record. Yours truly, For AXISCADES Technologies Limited Sonal Dudani Company Secretary & Compliance Officer AXISCADES Technologies Limited (formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435 Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.com | www.axiscades.com Annexure-I Disclosure in relation to Acquisition (by way of asset purchase) Sl. Particulars Details 1 Name of the target entity, details in ITSJ Group, Inc. (“ITSJ”), a corporation brief such as size, turnover etc. incorporated in the State of Delaware, USA, with its principal place of business at San Jose, California, USA. The Proposed Transaction is the acquisition of substantially all the business assets of ITSJ (and not of ITSJ as an entity) by XIDA Inc., a step-down subsidiary of the Company. Size / turnover: Revenue of ITSJ for the calendar year ended December 31, 2025 was US$ 3.47 million (approx. ₹ 33.22 crore). The accounts of ITSJ are not audited, as it is a small enterprise; the figure is as per management accounts reviewed in financial due diligence. 2 Whether the acquisition would fall No. ITSJ is not a related party of the Company, within related party transaction(s) and and the Proposed Transaction does not fall whether the promoter/ promoter within the ambit of related party transactions. group/ group companies have any None of the promoter(s), promoter group or interest in the entity being acquired? If group companies of the Company has any yes, nature of interest and details interest in ITSJ. thereof and whether the same is done at “arm’s length”. 3 Industry to which the entity being Precision engineering and electronics acquired belongs manufacturing services (CNC machining, PCB design and assembly, electrical cabinets, cable and harness assemblies, box build and system integration) for the semiconductor- equipment and data-centre infrastructure industries. 4 Objects and effects of acquisition The Proposed Transaction is within the main (including but not limited to, line of business of the Company, which carries disclosure of reasons for acquisition of on semiconductor and manufacturing target entity, if its business is outside businesses, including through XIDA, for the AXISCADES Technologies Limited (formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435 Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.com | www.axiscades.com the main line of business of the listed semiconductor-equipment and AI data-centre entity) markets. Objects: (a) to provide XIDA with a US-based design-to- build and manufacturing capability serving leading global semiconductor-equipment manufacturers and a hyperscale data-centre operator; (b) to add precision machining, PCB assembly, cable and box-build capabilities in San Jose, California, complementing XIDA’s engineering capabilities in India; and (c) to scale the acquired business with XIDA’s capital, systems and management. The Proposed Transaction is structured as an asset purchase; the liabilities of ITSJ, other than any specifically assumed, will remain with ITSJ. The Proposed Transaction is not expected to have a material impact on the consolidated financial results of the Company for the financial year 2026-27. 5 Brief details of any governmental or No approval of any governmental or regulatory approvals required for the regulatory authority in India is required. The acquisition Proposed Transaction is subject to customary corporate approvals and such other regulatory approvals and filings as may be applicable under the laws of the USA and other relevant jurisdictions. 6 Indicative time period for completion The Asset Purchase Agreement is expected to of the acquisition be executed by November 30, 2026, on satisfaction of the pre-signing conditions. Completion is expected on or before March 31, 2027, subject to satisfaction of the conditions precedent. 7 Nature of consideration - whether Cash and issue of shares of XIDA Inc. No shares cash consideration or share swap and of the listed Company are being issued, and details of the same the Proposed Transaction is not a share swap. AXISCADES Technologies Limited (formerly AXISCADES Engineering Technologies Limited) CIN No.: L72200KA1990PLC084435 Reg. Office: Block C, Second Floor, Kirloskar Business Park, Bengaluru -560024, Karnataka, INDIA Ph: +91 80 4193 9000 | Fax: +91 80 4193 9099 | Email: info@axiscades.com | www.axiscades.com (a) Cash at completion: US$ 2.5 million, of which US$ 0.55 million has already been advanced to ITSJ as interim bridge funding and will be adjusted, and part of which will be held in escrow under the agreed escrow arrangements; (b) Restricted shares of XIDA Inc. of a value of US$ 2.5 million, issued at completion to the seller / its promoter, vesting in ten equal quarterly tranches over 30 months and subject to forfeiture for breach of covenants. On issue, the seller / its promoter will hold approximately 0.60% of XIDA Inc.; (c) Earn-out of up to US$ 2.0 million in c [Showing first 8,000 characters — download PDF for full document]