Tejas Networks acquires further 0.78% stake in Saankhya Labs; stock slips ~1%

22 Jul 2022 , 11:01 AM

Tejas Networks Limited informed that the company has acquired 75,979 equity shares of Saankhya Labs Private Limited through secondary purchase at a price of Rs454.19 per equity share.

This is purchase of a further 0.78% stake in the company for a total consideration of Rs3.45 crore.

The total acquisition through secondary purchase (incl. the above acquisition) as on date is 61,57,925 equity shares at a price of Rs454.19 per equity share amounting to 63.43% of the equity share capital of Saankhya, on a fully diluted basis for a consideration of Rs279.69 crore.

The remaining 93,571 equity shares will be acquired by the Company in due course.

At around 11.01 AM, Tejas Networks’ counter was trading at Rs491, down by 0.95% against the previous close of Rs495.70 on NSE. So far, it touched intraday high and low of Rs501.85 and Rs487 respectively.