CG Power and Industrial Solutions Limited announced that its wholly-owned subsidiary, Axiro Semiconductor Private Limited, has entered into a definitive agreement to acquire 100% of the shareholding in Tosil Systems Private Limited for a consideration of ₹16.44 Crores. This strategic acquisition is expected to bolster the subsidiary’s semiconductor design capabilities by integrating Tosil’s expertise in embedded systems and silicon design, complementing CG Power’s existing business.
Strategic Acquisition to Enhance Semiconductor Capabilities
CG Power and Industrial Solutions Limited has disclosed a significant step in its growth strategy, with its wholly-owned subsidiary, Axiro Semiconductor Private Limited, executing a definitive agreement for the acquisition of Tosil Systems Private Limited. The transaction, valued at ₹16.44 Crores, will see Axiro Semiconductor acquire 100% of Tosil Systems’ shareholding. This acquisition is slated for completion on or before August 31, 2026, subject to the fulfillment of customary conditions precedent.
Deal Rationale and Target Company Overview
Tosil Systems Private Limited is an established entity with nine years of operational experience, specializing in semiconductor and embedded engineering services. Its core business includes silicon design, verification, physical implementation, embedded software development, and Edge AI engineering services, catering to global semiconductor and electronics OEMs. The acquisition is intended to strengthen Axiro Semiconductor’s existing semiconductor design capabilities by incorporating Tosil’s expertise in embedded, silicon, and application engineering design and development services. This move is seen as complementary to CG Power’s current semiconductor business operations.
Transaction Details
The acquisition is an all-cash transaction. The total consideration for the acquisition of 5,00,000 equity shares, representing 100% of the issued and paid-up share capital of Tosil, amounts to INR 16,44,00,000 (Indian Rupees Sixteen Crore Forty-Four Lakhs only). Tosil Systems was incorporated on February 27, 2017, and reported a turnover of INR 11.94 Crores for the year ended March 31, 2026. The acquisition is not considered a related party transaction, and the proposed transaction is conducted on an arm’s length basis.
Source: BSE
