On June 19, Axiscades Technologies’ share rose 5% upper circuit in the early morning trade after it permitted the acquisition of a German firm.

The acquisition of add Solution GmbH will be initiated through subsidiary AXISCADES GmbH with an estimated cost of 5.50 million euro, the company mentioned in an exchange filing.
Add Solution GmbH holds expertise in automotive solutions for international Original Equipment Manufacturers (OEMs).

Some orders were awaiting purchasing 5,334 shares, with no sellers available.
The proposed procurement will offer a strategic foothold to AXISCADES in the automotive space and an opportunity for firm contracts with marquee automotive OEMs. This will lead to important offshoring prospects and improved business for AXISCADES in the automotive space, both in India and internationally.

The acquisition will be phased, with 94% acquisition by July 2023 and the outstanding 6% by March 2025.
The acquisition end relates to regulatory compliances and the closure of funding.

At 9:23 am, Axiscades Technologies was trading at Rs 402.65, up Rs 19.15, or 4.99%, on the BSE.
The share moved a 52-week high of Rs 410.70 on June 6, 2023, and a 52-week low of Rs 108.40 on June 21, 2022, respectively. It is trading 1.96% below its 52-week high and 271.45% above its 52-week low.