Tata Sons’ subsidiary company -- Panatone Finvest is planning to acquire controlling stake in Tejas Networks for nearly Rs 1,890 crore. Tejas Networks has executed definitive agreements with Panatone Finvest, a subsidiary of Tata Sons. As part of the agreement, the company will make a preferential allotment of 1.94 crore equity shares at a price per equity share of Rs 258 per share aggregating to Rs 500 crore to Panatone.
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities.
