Tata Sons to acquire 43.3% stake in Tajas Networks for ₹ 1,850 crore

Tejas Networks on Thursday said an arm of Tata Sons will acquire controlling stake in it for nearly ₹1,890 crore in a multi-step deal.

Tata Sons subsidiary, Panatone Finvest Limited has signed a definitive agreement to pick 43.3% stake in Bengaluru-based telecom equipment firm, Tejas Networks, for ₹1,850 crore. Tejas Networks designs develops and sells networking products to telecommunications service providers, internet service providers, utilities, defence and government entities. The company would utilise the proceeds raised from the preferential allotment to invest organically and inorganically in the research and development, sales and marketing, people, infrastructure and to enhance its manufacturing and operational capabilities, as per a regulatory filing on Thursday.