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Tejas Networks acquires 62.65% stake in Saankhya Labs at Rs276.24 crore; Stock down 1%


Tejas Networks Limited had earlier introduced to the exchanges concerning execution of the share buy settlement with Saankhya Labs Non-public Restricted for the acquisition of 62,51,496 fairness shares, in a number of tranches, which might end result within the Firm holding 64.40% of the fairness share capital of Saankhya, on a totally diluted foundation and likewise the shareholders’ settlement (“SHA”) with the persevering with shareholders of Saankhya.

Accordingly, the Firm as of July 4, 2022 has acquired 60,81,946 fairness shares by means of secondary buy at a worth of Rs. 454.19/- per fairness share amounting to 62.65% of the fairness share capital of Saankhya, on a totally diluted foundation for a consideration of Rs276.24 crore.

Consequent to the mentioned acquisition, Saankhya has turn into a subsidiary of the Firm. The Firm is in strategy of buying the steadiness 1,69,550 fairness shares in the end of time, mentioned Tejas Networks in a regulatory submitting.

At round 1:49 PM, Tejas Networks was buying and selling at Rs442.10 per share down by Rs7.55 or 1.68% from its earlier closing of Rs449.65 per share on the BSE.



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