CG Power and Industrial Solutions Limited has announced that its wholly owned subsidiary, Axiro Semiconductor Private Limited, has entered into a definitive Securities Purchase Agreement to acquire 100% of the shareholding in Tosil Systems Private Limited for a cash consideration of ₹16.44 crore.
The agreement was executed on August 17, 2026, with the proposed acquisition covering all 5,00,000 equity shares of Tosil, representing its entire issued and paid-up equity share capital. The transaction is subject to the satisfactory completion of the conditions precedent specified in the agreement.
Tosil Systems is a nine-year-old company operating in the semiconductor design services and embedded engineering sector. The company provides silicon design, verification and physical implementation services, along with embedded software, Linux Board Support Package (BSP) development and Edge AI engineering services to global semiconductor and electronics original equipment manufacturers (OEMs).
Tosil reported a turnover of ₹11.94 crore for the financial year ended March 31, 2026, compared with ₹11.12 crore in FY2024-25 and ₹6.95 crore in FY2023-24. Its issued and paid-up equity share capital stands at ₹50 lakh.
According to CG Power, the acquisition is aimed at strengthening its semiconductor design capabilities by adding Tosil’s embedded, silicon and application engineering design and development services to its existing semiconductor business.
The transaction is not classified as a related-party transaction. The sellers are unrelated individual shareholders of Tosil and are not related parties of CG Power, Axiro Semiconductor or their promoter/promoter group. The proposed transaction is being undertaken on an arm’s-length basis.
The acquisition is expected to be completed on or before August 31, 2026, or such extended date as may be mutually agreed, subject to the fulfilment of the conditions precedent under the Securities Purchase Agreement. The consideration will be paid entirely in cash.
Tosil Systems was incorporated on February 27, 2017, under the Indian Companies Act, 2013. Its business includes semiconductor and embedded engineering services covering silicon design, verification and physical implementation, embedded software, Linux BSP development and Edge AI engineering for global semiconductor and electronics OEMs.
The proposed acquisition will give CG Power full ownership of Tosil Systems and expand its capabilities across semiconductor design and embedded engineering services. The company has stated that no governmental or regulatory approvals are applicable to the acquisition.
