Tata Sons subsidiary to buy 43.3% stake in Tejas Networks for Rs 1,850 cr

Tejas Networks said Panatone and some other companies of the Tata Group would make a public announcement to acquire up to 40.3 million equity shares of Tejas Networks

After acquiring online grocery retailer BigBasket in May and online pharma products seller 1mg Technologies in June, Tata Group continues its acquisition spree, with Tata Sons announcing on Thursday its subsidiary Panatone will buy 43.3 per cent in digital telecom infrastructure firm Tejas Networks for Rs 1,850 crore.

Panatone is Tata Sons’ investment arm and the promoter entity of Tata Communications.

In a statement, Tejas Networks said Panatone and other certain companies of Tata Group would make a public announcement to acquire up to 40.3 million equity shares of Tejas Networks, representing 26 per cent of the voting capital, in accordance with