Tejas Networks buys 62.65% stake in Saankhya Labs for Rs 276.24 crore

Tejas Networks Tuesday said it has acquired 62.65% stake in Saankhya Labs for Rs 276.24 crore.

In a stock exchange filing, the Tata group telecom equipment maker said that it has bought “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.”

The company’s stock rose 1.17% on Tuesday, ending the day’s trade at Rs 449.65 on the BSE.