Himachal Futuristic Communications (HFCL) has signed a Share Subscription and Purchase Agreement with BIGCAT Wireless on February 26, 2020. In terms of the agreement, the company intends to acquire up to 47.87% of the paid-up equity share capital (on a fully diluted basis assuming all securities and options to be issued to employees are fully converted) of BIGCAT, in various tranches, by way of subscribing/purchasing its equity shares and also, the company shall have control or voting rights of up to 50% in BIGCAT, post-acquisition of equity stake in BIGCAT.
HFCL is one of India’s largest telecom network turnkey implementation companies, with wide and deep capabilities and domain expertise in rolling out advanced telecom networks.
