SAR Televenture has signed a deal with L&T Finance to acquire an additional 19.93% stake in Tikona Infinet Private for Rs 149.50 crore.
Under the agreement, Rs30 crore will be paid upfront, with the remaining amount will be settled through a share swap at the same price offered under an earlier pact signed with Tikona’s majority shareholders. The transaction is subject to regulatory approvals.
In a statement Saturday, SAR Televenture said the deal will further consolidate its stake in Tikona, simplify the internet service provider’s shareholding, and support its long-term strategy in broadband and digital infrastructure. “This acquisition will pave the way for Tikona’s next phase of growth under a simplified and unified shareholding structure".
In August, SAR Televenture had acquired a majority stake in Tikona through a share swap deal worth Rs578 crore, according to an earlier company announcement. That acquisition provided SAR with Tikona’s nationwide Unified License (ISP, Category-A) and National Long Distance (NLD) license, enabling it to expand services in the enterprise and retail broadband segment.
Tikona, one of the independent ISPs in India, has been competing in a market where Reliance Jio and Bharti Airtel dominate home broadband services. Industry experts have pointed out that smaller operators, such as Tikona, face challenges including capital expenditure limits, subscriber churn and intense competition from fixed wireless access rollouts by larger telecoms, ET reported in April.
Add Now!
Under the agreement, Rs30 crore will be paid upfront, with the remaining amount will be settled through a share swap at the same price offered under an earlier pact signed with Tikona’s majority shareholders. The transaction is subject to regulatory approvals.
In a statement Saturday, SAR Televenture said the deal will further consolidate its stake in Tikona, simplify the internet service provider’s shareholding, and support its long-term strategy in broadband and digital infrastructure. “This acquisition will pave the way for Tikona’s next phase of growth under a simplified and unified shareholding structure".
In August, SAR Televenture had acquired a majority stake in Tikona through a share swap deal worth Rs578 crore, according to an earlier company announcement. That acquisition provided SAR with Tikona’s nationwide Unified License (ISP, Category-A) and National Long Distance (NLD) license, enabling it to expand services in the enterprise and retail broadband segment.
Tikona, one of the independent ISPs in India, has been competing in a market where Reliance Jio and Bharti Airtel dominate home broadband services. Industry experts have pointed out that smaller operators, such as Tikona, face challenges including capital expenditure limits, subscriber churn and intense competition from fixed wireless access rollouts by larger telecoms, ET reported in April.
Add 
as a Reliable and Trusted News Source
as a Reliable and Trusted News Source Add Now!
