Penny Stock Under Rs 5: Company Incorporated A Wholly Owned Subsidiary For Electric Vehicles
The primary objective of this subsidiary is to engage in the manufacturing of engineering goods, specifically focusing on the electric vehicle (EV) ecosystem.
Axis Solution Limited (formerly known as Asya Infosoft Limited) has announced the incorporation of a wholly-owned subsidiary, AXTEVATE GO PRIVATE LIMITED, on April 9th, 2025. The newly formed entity, with CIN U27900GJ2025PTC161312, has an authorized and paid-up capital of Rs 1,00,000. Currently, Axtevate Go Private Limited is yet to commence its business operations and therefore has no applicable size or turnover. The primary objective of this subsidiary is to engage in the manufacturing of engineering goods, specifically focusing on the electric vehicle (EV) ecosystem, including charging infrastructure, related technologies, and potentially solar-based electricity generation.
As a wholly-owned subsidiary, Axtevate Go Private Limited is considered a related party to Axis Solution Limited. While the promoter and promoter group of Axis Solution Limited hold no direct interest in Axtevate Go Private Limited beyond the shareholding, the incorporation itself constitutes a related party transaction. Axis Solution Limited has invested Rs 1,00,000 in cash to acquire 100 per cent ownership, comprising 10,000 equity shares of Rs 10 each. Axtevate Go Private Limited, incorporated in India with its registration in Ahmedabad, Gujarat, is intended to operate in the manufacturing sector, with a strong emphasis on supporting the growth of the electric vehicle industry through its diverse business objectives. No specific governmental or regulatory approvals were required for this incorporation, and the acquisition is already complete.
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Asya Infosoft Ltd. is an Indian company specializing in providing information technology services. Their core business revolves around offering technology market research, which assists businesses in leveraging innovation and technical knowledge to optimize their IT processes. The company's subsidiary, Ideal Systems Limited, further strengthens its capabilities. While specific details about its founding and management are limited, Asya Infosoft is publicly listed on the Bombay Stock Exchange (BSE) under the symbol 511144.
The company has a market cap of Rs 4.35 crore. The stock was last traded on the BSE exchange on June 13, 2022, where the stock was locked in a 5 per cent lower circuit to Rs 3.61 per share. The stock is currently suspended due to penal reasons or procedural reasons.
Disclaimer: The article is for informational purposes only and not investment advice.