SUMMARY
- SAR Televenture has signed a Rs 669 crore cash and stock deal to acquire a 91% stake in Tikona Infinet.
- The acquisition strengthens SAR’s presence in ISP, IP1, broadband, and enterprise services, enhancing its telecom portfolio.
- Tikona’s client list includes major players like HDFC Bank, ICICI Bank, and Tata Communications.
In a strategic move to broaden its network infrastructure capabilities, SAR Televenture announced on Monday its acquisition of a 91% stake in internet service provider Tikona Infinet for Rs 669.04 crore. The deal, structured as a cash and stock transaction, will transform Tikona Infinet into a significant subsidiary of SAR Televenture, with Tikona shareholders receiving shares in SAR Televenture as part of the agreement.
SAR Televenture, listed on the SME platform of the NSE, anticipates that this acquisition will provide a substantial boost to its service offerings, particularly within the enterprise sector. According to the company’s statement, operational synergies between SAR and Tikona are expected to generate cost savings and improve service efficiencies. With the addition of Tikona’s assets, SAR will enhance its portfolio to include ISP, IP1, broadband, and enterprise services, making SAR an integrated telecom services provider.
Founded in 2008, Tikona Infinet has established a strong foothold in high-speed internet and data services across residential, commercial, and enterprise segments in over 300 cities throughout India. The company reported sales of Rs 192.86 crore in FY24, underscoring its significant market presence. Tikona’s client base includes prominent names such as HDFC Bank, ICICI Bank, Axis Bank, NSE, BSE, Ujjivan Bank, Indigo Airlines, SpiceJet, Tata Communications, and Cipla, among others, which adds substantial value to SAR’s service offerings.
Although the exact timelines for completing the deal were not disclosed, the acquisition marks a pivotal step in SAR Televenture’s growth trajectory, furthering its ambition to be a prominent player in India’s telecom infrastructure market. SAR expects that the integration with Tikona will help streamline operations and enhance service delivery, creating a robust foundation for future expansion in ISP and enterprise segments.
