Tejas Networks has acquired the remaining balance of 93,571 equity shares of Saankhya Labs at a price of Rs 454.19 per equity share amounting to consideration of Rs 4.25 crore through secondary purchase.
With the said balance acquisition of equity shares, the company has acquired the entire 62,51,496 equity shares (as agreed in the Share Purchase Agreement with Saankhya dated March 30, 2022) at a price of Rs 454.19 per equity share amounting to consideration of Rs 283.94 crore, working out to 64.40% of the equity share capital of Saankhya, on a fully diluted basis.
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.
