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Tata Sons arm to buy controlling stake in Tejas Networks for ₹1,890 crore

Panatone Finvest, a Tata Sons subsidiary, has signed a definitive agreement to acquire controlling stake of 43.35% in Tejas Networks for nearly ₹1,890 crore. As a part of the agreement, Panatone will make a mandatory open offer for as much as 26% stake at 258 per share. After the announcement, Tejas’ shares jumped by 5% to hit a 52-week high.

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