Tata Sons’ subsidiary company -- Panatone Finvest has picked up an 8 per cent stake in Tejas Networks for over Rs 193 crore through an open market transaction. Panatone purchased 75 lakh shares, amounting to an 8 per cent stake, of Tejas Networks. The shares were bought at an average price of Rs 258, aggregating the transaction size to Rs 193.5 crore.
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.
