CG Power’s Axiro Acquires 100% Stake in Tosil Systems

CG Power and Industrial Solutions’ wholly owned subsidiary, Axiro Semiconductor, has finalized the acquisition of a 100% equity stake in Tosil Systems.

This strategic transaction involved the purchase of 5,00,000 equity shares, effectively making Tosil a fully owned subsidiary under Axiro’s control following the completion of the process.

Acquisition Financials

• Shares Acquired: 5,00,000 equity shares
• Face Value per Share: Rs 10 each
• Total Stake: 100% of Tosil Systems’ subscribed and paid-up equity share capital
• Consideration Paid: A total of Rs 16.44 crore for the acquisition

The completion of this share acquisition means Tosil Systems now operates as a wholly owned subsidiary of Axiro Semiconductor.

This legal restructuring is in accordance with Section 2(87) of the Companies Act, 2013, formally integrating Tosil into Axiro’s corporate structure and operations.

CG Power and Industrial Solutions, the parent company, is a prominent engineering conglomerate recognized for its diverse capabilities.

Its extensive portfolio encompasses products, solutions, and services specifically designed for power and industrial equipment, addressing a wide array of sector requirements and client needs.

The full integration of Tosil Systems under Axiro Semiconductor’s umbrella marks a definitive step in CG Power’s operational strategy.

This move solidifies the ownership structure and aligns with the company’s broader business objectives for market expansion and synergy.