Tata Group makes open offer to acquire upto 26 per cent stake in Tejas Networks for around Rs 10.38 billion

Tata Group has made an open offer to acquire upto 26 per cent stake in Tejas Networks for around Rs 10.38 billion. The offer is part of Tata Group’s bid to acquire a controlling stake in Tejas Networks.

Under the open offer, Tata Sons and its subsidiaries Panatone Finvest, Akashastha Technologies have made a cash offer to acquire around 10 million fully paid-up equity shares of Tejas Networks at a price of Rs 258 apiece.

Earlier in July 2021, Tejas Networks had said that an arm of Tata Sons will acquire controlling stake in it for nearly Rs 18.9 billion in a multi-step deal and the company has executed definitive agreements with Panatone Finvest.