Transfer of Engineering Services business in Heavy Engineering, Automotive and Energy to Akkodis completed

Engineering Services business transfer in Heavy Engineering, Automotive and Energy to Akkodis India, Akkodis UK and Akkodis Inc. completed on October 1, 2026.

Thu 1 Oct 2026

Amount Received on Closing Date

USD 11,760,000

Holdback Pending Transfer of Business Contracts

USD 3,314,216

Holdback Pending Repayment of Existing Bank Facility

USD 800,000

Closing Date

October 1, 2026

Amendment Agreement Date

September 25, 2026

What the company informed the exchanges

The company has informed the stock exchanges that the transfer of the business comprising the provision of Engineering Services in the Heavy Engineering, Automotive, and Energy segments has been completed on October 1, 2026. The company states this followed the completion, waiver or deferment of the relevant conditions precedent under the Transaction Documents on September 30, 2026.

The transfer was made by the company and its subsidiaries, Epcogen Private Limited, AXISCADES UK Limited and AXISCADES Inc., to Akkodis India Private Limited, Akkodis UK Limited and Akkodis Inc. respectively.

Money received and amounts held back

• ATL and its Subsidiaries have received USD 11,760,000 on the Closing Date.
• A temporary hold back from the Closing Date of USD 3,314,216 is pending transfer of certain business contracts.
• A hold back of USD 800,000 is pending repayment of an existing bank facility.
• The update states both are under closure, and the holdback amounts shall be released upon fulfilment of the conditions in respect of the business contracts and the facility.

The Amendment Agreement

• The parties executed an Amendment Agreement on September 25, 2026 in relation to the Business Transfer Agreement and the Master Framework Agreement executed on May 26, 2026.
• It revises commercial and operational terms of the underlying Transaction Documents, including the reference date for the applicable foreign exchange rate, revised payment and holdback arrangements from the purchase consideration, repayment of an existing facility and releasing related encumbrances post-closing, and indemnity provisions relating to specified liabilities.
• On size, the update states the Amendment Agreement does not alter the overall transaction value disclosed by the company in its intimation dated May 26, 2026, and does not alter the overall commercials of the transaction and the transaction structure.

On the parties and their relationship

• The buyer does not belong to the promoter, promoter group or group companies of the company.
• The transaction does not fall within related party transactions.
• Shareholding, if any, in the entity with whom the agreement is executed is stated as Not Applicable.

How a retail investor can read this

This is an update on a transaction that was disclosed earlier, now reported as completed, together with an amendment to certain commercial and operational terms of the underlying agreements. The key figures a reader can track are the amount stated as received at closing (USD 11,760,000) and the two holdback amounts (USD 3,314,216 and USD 800,000), which the update says will be released on fulfilment of the stated conditions.

What is happening to the rest of the picture: the update states the transfer covered the Engineering Services business in the Heavy Engineering, Automotive, and Energy segments, and that the amendment does not change the overall transaction value or the transaction structure.

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