Axiscades Acquires Cloud Wave, Muthoot Microfin Raises Debt

Axiscades Technologies has secured approval to acquire 90% of Cloud Wave Technologies, a Bengaluru-based precision engineering firm, for approximately Rs 234 crore. This move marks a strategic expansion for Axiscades in the manufacturing sector.

Key Acquisition Details

• Acquisition: 90% equity share capital of Cloud Wave Technologies.
• Consideration: Approximately Rs 234 crore in cash.
• Enterprise Valuation: Approximately Rs 260 crore, subject to final adjustments.

Muthoot Microfin has received approval to raise up to Rs 250 crore through secured, rated, listed, redeemable, non-convertible debentures (NCDs). The company’s Debenture Issue and Allotment Committee sanctioned this on August 28, 2026.

Muthoot Microfin’s Capital Raise

• Issuance: Up to 2,50,000 NCDs.
• Face Value: Rs 10,000 each.
• Coupon Rate: 9.25% per annum.
• Tenure: 24 months.
• Deemed Allotment Date: September 8, 2026.
• Listing: Proposed on BSE.

In related market developments, Ashoka Buildcon has secured a Letter of Acceptance (LoA) from Rail Vikas Nigam for a project valued at approximately Rs 602.16 crore, including GST. This project focuses on electro mechanical systems for tunnels within the Rishikesh Karnprayag New BG Rail Line Project in Uttarakhand, with a completion period of 30 months.

Infrastructure and Engineering Projects

NBCC (India) and NHPC have formalized a Memorandum of Understanding (MoU) to execute NHPC’s infrastructure projects across India, including residential and commercial facilities, at a PMC fee of 5.5%. Separately, Power Grid Corporation of India acquired Fatehgarh II Transmission, a project SPV, on a build, own, operate, and transfer (BOOT) basis for installing Synchronous Condensers at Fatehgarh-II PS.

Excelsoft Technologies has also expanded its global presence by incorporating a Wholly Owned Subsidiary (WOS) in Canada on August 27, 2026.