GF Steels acquires 62.01% stake in Tikona Infinet
after close1 source ↓written by the desknot a recommendation
- of Tikona Infinet
- 62.01% equity shares
- via Non-Convertible Debentures
- ₹99.22 crore
- from existing shareholders
- 1,27,89,817 shares
- to close
- 31 Mar 2027
- for FY2025
- ₹218.86 crore
Tikona Communication Limited, listed as GF Steels, has approved the acquisition of 62.01% equity shares of Tikona Infinet for ₹99.22 crore via Non-Convertible Debentures. This acquisition involves 1,27,89,817 shares from existing shareholders and is expected to close by 31 Mar 2027. Tikona Infinet reported a turnover of ₹218.86 crore for FY2025, indicating growth potential for GF Steels.
The move may enhance GF Steels' market position in the telecom sector, potentially impacting investor sentiment positively.
Not investment advice. For informational purposes only.