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Tejas Networks Share Price Rallies As Tata Sons Looks To Acquire Controlling Stake

Jul 29 2021, 12:10 PM
July 29 2021, 12:07 PM
July 29 2021, 12:10 PM
Panatone Finvest Ltd., a unit of Tata Sons Pvt., will acquire a controlling stake in Tejas Networks Ltd.The Tata company has signed an agreement to acquire 43.35% of Tejas for Rs 1,850 crore, triggering an open offer by Tata Sons to acquire shares of the telecom and broadband network products maker from the public, according to an exchange filing.As part of the agreement, Tejas will make a preferential allotment of 1.94 cro.
Panatone Finvest Ltd., a unit of Tata Sons Pvt., will acquire a controlling stake in Tejas Networks Ltd.
The Tata company has signed an agreement to acquire 43.35% of Tejas for Rs 1,850 crore, triggering an open offer by Tata Sons to acquire shares of the telecom and broadband network products maker from the public, according to an exchange filing. ....

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Quess acquires residual 30% stake in Conneqt from Tata Sons

Quess acquires residual 30% stake in Conneqt from Tata Sons
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IANS
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Quess acquires residual 30% stake in Conneqt from Tata Sons. Image Source: IANS News
New Delhi, April 16 : Quess Corp has announced the acquisition of the remaining 30 per cent stake in Conneqt Business Solutions Ltd for Rs 208 crore, pursuant to the put option notice by Tata Sons Pvt Ltd.
In a statement Quess said that with this transaction, Conneqt will become its wholly owned subsidiary.
Quess had acquired 51 per cent of Conneqt in November 2017 and further increased its stake in Conneqt from 51 per cent to 70 per cent in May 2019 through infusion of primary capital, which was used to fund the acquisition of Allsec Technologies Limited. ....

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Welcome To IANS Live - BUSINESS - Quess acquires residual 30% stake in Conneqt from Tata Sons

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New Delhi, April 16 (IANS) Quess Corp has announced the acquisition of the remaining 30 per cent stake in Conneqt Business Solutions Ltd for Rs 208 crore, pursuant to the put option notice by Tata Sons Pvt Ltd.
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Update: 16-April-2021 ....

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Nifty, Sensex Indecisive – Weekly closing report

Nifty, Sensex Indecisive – Weekly closing report
Moneylife Digital Team
0
We had mentioned in last week’s closing report that Nifty, Sensex were directionless. The major indices faced a correction this week. The trend of the major indices in the week is given in the table:

On Monday, the indices suffered a major correction and ended with huge losses. On the NSE, there were 241 advances, 1,740 declines and 313 unchanged.

Flipkart announced that it will work with Adani Logistics to strengthen Flipkart’s supply chain infrastructure and further enhance its ability to serve its rapidly growing base of customers. In addition, Flipkart will set up its third data centre at Adaniconnex’s Chennai based facility. ....

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Tata Motors completes sale of defense business

Tata Motors has completed the transfer of its defense business with effect from 1 April 2021 to Tata Advanced Systems (TASL) for an upfront consideration of Rs 227.7 crore.
The transfer has been completed through a slump sale as per Scheme of Arrangement approved by National Company Law Tribunal at Mumbai and Hyderabad. Over the next several months, Tata Motors and TASL will work closely to ensure smooth transition of the Defense business.
TASL, a wholly owned subsidiary of Tata Sons Pvt., is focused on providing integrated solutions for aerospace, defense and homeland security. The sale of Defense business to TASL is in line with Tata Group s strategy of consolidating the defense businesses under a single entity to bring scale and synergy. ....

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