Tata Sons arm to acquire majority stake in Tejas Networks

Tata Sons arm to acquire majority stake in Tejas Networks
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IANS
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Tata Sons surpasses Centre as the largest promoter of listed companies. Image Source: IANS News
Bengaluru, July 29 : Panatone Finvest Limited, a subsidiary of Tata Sons Private Ltd plans to acquire controlling stake in telecom equipment maker Tejas Networks.
Panatone Finvest will buy a 43.3 per cent stake in Tejas Networks for Rs 1,850 crore and along with other Tata Group companies, Panatone would make a public announcement to acquire up to another 26 per cent stake in Tejas.
Tejas Networks has executed definitive agreements with Panatone.
In a regulatory filing, Tejas said that it sees a very large opportunity in the telecom sector both in India and global markets with the new cycle of investments in 5G and fiber-based broadband rollouts.

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