Tejas Networks rises on acquiring 62.65% equity share capital of Saankhya

Tejas Networks is currently trading at Rs. 455.80, up by 6.15 points or 1.37% from its previous closing of Rs. 449.65 on the BSE.

Tejas Networks
Tejas Networks

The scrip opened at Rs. 454.00 and has touched a high and low of Rs. 459.00 and Rs. 454.00 respectively. So far 3345 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 578.45 on 11-Apr-2022 and a 52 week low of Rs. 174.75 on 22-Jul-2021.

Last one week high and low of the scrip stood at Rs. 477.00 and Rs. 439.75 respectively. The current market cap of the company is Rs. 6813.28 crore.

The promoters holding in the company stood at 37.17%, while Institutions and Non-Institutions held 19.22% and 43.60% respectively.

Tejas Networks has acquired 60,81,946 equity shares through secondary purchase at a price of Rs 454.19 per equity share amounting to 62.65% of the equity share capital of Saankhya, on a fully diluted basis for a consideration of Rs 276.24 crore. Consequent to the said acquisition, Saankhya has become a subsidiary of the company.

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

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