Axis Solutions Limited has incorporated a wholly-owned subsidiary company named AxisSol Arabia Company in Saudi Arabia. The disclosure is made pursuant to Regulation 30 of the SEBI Listing Regulations.
Subsidiary Details
- Name of Subsidiary: AxisSol Arabia Company
- Country of Incorporation: Saudi Arabia
- Date of Incorporation: 3rd June, 2026
- Share Capital: 20,000 SAR (200 shares of 100 SAR each)
- Business Activities: The subsidiary is incorporated to carry on the business of oil & gas field machinery, installation of industrial machinery in industrial plants, and installation of industrial process control equipment.
- Current Status: The subsidiary is yet to commence its business operations.
- Turnover History: Not applicable as operations haven't commenced.
Transaction Details
- Nature of Transaction: The incorporation falls under related party transactions as it is a wholly-owned subsidiary of Axis Solutions Limited.
- Promoter/Group Interest: The promoter, promoter group, and group companies do not have any interest in AxisSol Arabia Company except to the extent of its shareholding.
- Consideration: Future subscription to share capital, if any, will be made in cash/remittance.
- Cost of Acquisition: 20,000 SAR for 200 shares.
Regulatory Approvals
- Governmental/Regulatory Approvals: Not applicable at this stage (will be addressed at the time of capital infusion).
- Timeframe for Completion: Not applicable for the incorporation process, which is already complete.
Disclosure Reference
The disclosure is made under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, with reference to Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.