Excelsoft Technologies Incorporates Wholly Owned Subsidiary in Canada

Excelsoft Technologies Limited has announced the incorporation of its wholly owned subsidiary (WOS) in Canada, named "Excelsoft Technologies Canada Ltd.". This development follows the Board of Directors' approval and is a continuation of the company's earlier disclosure on August 07, 2026. The WOS was officially incorporated on August 27, 2026, under Canadian law.

This strategic move aims to facilitate the company's business operations and support its expansion into the Canadian and broader North American markets. The activities of the Canadian subsidiary are designed to complement Excelsoft's principal business and are expected to enhance its presence and business opportunities in the region. Excelsoft Technologies Canada Ltd. will function as a Business Development and Sales hub, in addition to providing software development services to local clients.

The newly incorporated entity is a related party to Excelsoft Technologies Limited, with common directors. Mrs. Shruthi Sudhanva, a Promoter and Whole-time Director of Excelsoft, and Mr. Doreswamy Palaniswamy, the Chief Executive Officer, are directors of the Canadian WOS. The transaction has been reviewed and approved by the Audit Committee and the Board of Directors, and it is intended to be conducted on an arm's length basis. Excelsoft Technologies Limited will hold 100% of the shareholding in the Canadian subsidiary. Further details regarding the cost of acquisition and completion timeline will be updated upon the acquisition of the company's entire share capital, with an indicative completion period of within 12 months.