Axiscades Tech to acquire 90% stake in Cloud Wave Tech for INR 2.34 bln
This story was originally published at 21:35 IST on 28 August 2026
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--Axiscades Tech to buy 90% stake in Cloud Wave Tech for INR 2.34 bln
NEW DELHI – Axiscades Technologies Ltd. Friday said its board approved acquiring a 90% equity stake in Cloud Wave Technologies Pvt. Ltd. for a cash consideration of around INR 2.34 billion, at an enterprise value of INR 2.60 billion. The remaining 10% equity stake in Cloud Wave may be subsequently acquired by the company, Axiscades Technologies said in an exchange filing. The acquisition is expected to be completed by Sept. 30.
Cloud Wave, based in Bengaluru, operates in the precision engineering and manufacturing industry. The company operates seven manufacturing units, providing precision machining, sheet metal fabrication, tooling, plastic injection moulding, plastic 3D printing, surface treatment and power press parts. Cloud Wave had a turnover of INR 1.08 billion in 2025-26 (Apr-Mar).
The acquisition is a step in Axiscades' plan to transition from an engineering-services-led business model toward aerospace manufacturing. It aims to develop owned manufacturing capability and capacity to complement the existing aerospace, defence, and electronics and semiconductor offerings. The acquisition will also help establish a physical manufacturing platform intended to be scaled into a larger centre of aerospace manufacturing.
Friday, Axiscades Technologies shares ended at INR 1,594.70 on the National Stock Exchange, down 1.1% from the previous close. For the June quarter, the company reported a consolidated net loss of INR 148.33 million on revenues of INR 1.83 billion. End
Reported by Devanshu Singla
Edited by Saji George Titus
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