Bengaluru, India – August 28, 2026
AXISCADES Technologies Limited’s board has approved the acquisition of a majority stake in Cloud Wave Technologies Private Limited, a Bengaluru-based precision engineering and manufacturing company, at an enterprise valuation of approximately ₹260 crore. AXISCADES will acquire 90% of Cloud Wave’s shareholding for around ₹234 crore in cash, with the transaction expected to close by September 30, 2026. The remaining 10% stake may be acquired subsequently.
AXISCADES shares closed 1.22% lower at ₹1,594 on the day of the announcement, against a previous close of ₹1,613.65, with the company’s market capitalisation at ₹6,779.84 crore.
About Cloud Wave Technologies
Founded in 2014, Cloud Wave operates seven manufacturing units and holds AS9100D certification. Its capabilities span precision machining, sheet-metal fabrication, tooling, plastic injection moulding, 3D printing, surface treatment and power-press components. The company’s customer base spans the aerospace, defence and semiconductor sectors across domestic and export markets.
AXISCADES said the acquisition is expected to be earnings accretive over the medium term, subject to completion on the agreed terms, and is not expected to have any adverse impact on the company’s existing operations.
Part of a Broader Restructuring
The Cloud Wave acquisition follows AXISCADES’ completed Engineering Services Divestment Programme, under which the company sold its Aerospace Engineering Services business to Akkodis, a global digital engineering consulting company, for an aggregate consideration of $206.30 million (approximately ₹2,256 crore). That transaction, approved by AXISCADES’ board on June 12, 2026, was structured in two tranches, a 51% stake acquired by Akkodis at closing, with the remaining 49% to be acquired over the following 24 to 30 months.
Following the divestment, AXISCADES restructured around four strategic growth platforms: Aerospace Manufacturing / Supply Chain Integration / MRO, operated through its DAC, MAC and DAL facilities; ACAT, the company’s defence manufacturing, strategic electronics and systems integration arm; XiDA Inc., an AI-centric electronics and semiconductor platform; and a newly established Space division for satellite bus manufacturing and systems integration.
Proceeds from the divestment are being deployed under AXISCADES’ “Power 930” plan, a publicly stated five-year target of approximately ₹9,000 crore in revenue and ₹960 crore in profit after tax by FY2030. Capital is earmarked for capacity expansion, certification and tooling investments at the company’s aerospace manufacturing facilities, the buildout of the new Space division’s satellite bus manufacturing infrastructure, and a pipeline of further strategic acquisitions in the Aerospace and ESAI segments planned across FY27 and FY28.
Recent Financial Performance
AXISCADES reported FY26 consolidated revenue of ₹1,159 crore, up 12.4% year-on-year. For Q1 FY27, the company reported revenue of ₹346.7 crore, up 42.2% year-on-year, alongside a reported net loss of ₹15 crore for the quarter on a separate consolidated basis; EBITDA for the quarter rose 38.1% year-on-year to ₹8.7 crore. The company holds an order book of approximately ₹1,260 crore for the current fiscal year and ₹1,827 crore for the next.
Other Recent Developments
AXISCADES has also announced plans to invest ₹6,000 crore in manufacturing hubs in Karnataka, alongside a partnership with Portugal’s OGMA (an Embraer company) for aerospace and defence MRO, and a ₹100 crore defence order from a DRDO-BEL programme involving group company Mistral Solutions. Systems under that order are being manufactured at the company’s newly commissioned Devanahalli Atmanirbhar Complex (DAL) facility at the Bengaluru Aerospace Park.