The Board of Tata Communications at its meeting held on 17 July 2025 approved entering into an Intra-Group Share Purchase Agreement ('SPA') for the acquisition of the entire equity share capital of its step down wholly-owned subsidiary viz., Solutions Infini Technologies (India) (SI India) from Kaleyra S.P.A. for an aggregate fair value consideration of Rs 123.6 crore, in accordance with the terms and conditions mutually agreed under the SPA.
The proposed transaction is intended to simplify existing group structure of the Company and its subsidiaries by moving SI India under direct ownership of the Company without any change in the ultimate ownership and beneficial economic interest of the Company in SI India.
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