Avance Technologies touches roof on signing non-binding term sheet to acquire 100% stake in Pushpak AI
Avance Technologies is currently trading at upper limit of Rs. 2.00, up by 0.09 points or 4.71% from its previous closing of Rs. 1.91 on the BSE.
The scrip opened at Rs. 1.90 and has touched a high and low of Rs. 2.00 and Rs. 1.85 respectively. So far 35547251 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 3.15 on 09-Oct-2025 and a 52 week low of Rs. 0.52 on 01-Apr-2025.
Last one week high and low of the scrip stood at Rs. 2.00 and Rs. 1.63 respectively. The current market cap of the company is Rs. 396.38 crore.
The promoters holding in the company stood at 0.68%, while Non-Institutions held 99.32% stake in the company.
Avance Technologies has signed a non-binding term sheet to acquire upto 100% equity stake in Pushpak AI, a Hyderabad-based Computer Vision and Edge AI platform. The announcement comes amid rapid expansion in the global artificial intelligence market, which is estimated to reach $2.4 trillion by 2032.
This proposed acquisition would mark Avance Technologies' entry into the high-growth visual intelligence and edge AI ecosystem, a segment witnessing accelerated adoption across various industries, including manufacturing, infrastructure, smart cities, retail, logistics, and industrial automation.
Computer vision and edge-based AI analytics are emerging as core enablers of operational efficiency, safety compliance and real-time decision-making. In India, AI adoption is expected to contribute nearly $500 billion to GDP by 2035, with computer vision playing a pivotal role in surveillance, productivity tracking, intelligent traffic systems, and industrial automation. The proposed acquisition shall enable Avance Technologies to exercise full strategic and operational control, allowing deeper integration of Pushpak AI’s intellectual property, platforms and enterprise relationships to drive long-term shareholder value.
Avance Technologies specializes in the distribution of information technology (IT) products.
