Date: 30th September, 2026
Board Meeting Outcomes
- Texmaco Defence Technologies Limited (TDTL), a subsidiary of Texmaco Rail & Engineering Limited, signed a Share Purchase Agreement on 30th September 2026
- The agreement is for acquiring 100% share capital of Indolem Technologies Systems Private Limited (ITSPL)
- Upon completion of conditions precedent, ITSPL will become a wholly-owned subsidiary of TDTL and a step-down subsidiary of Texmaco Rail & Engineering Limited
Acquisition Details
Target Entity Information:
- Name: Indolem Technologies Systems Private Limited (ITSPL)
- Authorized Capital: INR 1,00,000
- Paid-up Capital: INR 1,00,000
- Date of Incorporation: 12th March, 2026
- Country: India
- Industry: Defence, Robotics & Allied Activities
Business Description:
ITSPL is engaged in the business of acquiring, developing, commercializing, and exploiting intellectual property, technologies, and know-how relating to:
- Design, development, engineering, manufacture, assembly, testing, integration, marketing, distribution, and sale of Land Systems Autonomous (ALS)
- Autonomous Sea Vehicles (ASV)
- Allied autonomous technologies
Financial Information:
- Turnover: Not applicable (company was incorporated on 12th March 2026 and has no financial-year turnover)
Transaction Details:
- Acquisition Type: 100% shareholding acquisition
- Consideration: Cash consideration of INR 8,00,000 (Indian Rupees Eight Lakhs Only)
- Transaction Type: Not a related party transaction
- Promoter/promoter group/group companies have no interest in the entity being acquired
- Governmental/regulatory approvals: Not Applicable
- Expected completion: Within 30 business days from execution date of Share Purchase Agreement (30th September 2026)
Strategic Rationale:
The proposed acquisition is aligned with the Company's strategy to expand its defence portfolio and strengthen strategic partnerships.