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Tata Sons’ arm acquires 8% stake in Tejas Networks

03 Aug 2021 Evaluate

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.

Peers
Company Name CMP
Black Box 924.05
ITI 240.35
Tejas Networks 458.75
Quadrant Televenture 0.79
Valiant Communicatns 1702.15
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