Liquidity Events
Network infra co SAR Televenture acquires ISP Tikona Infinet for Rs.578-Cr
Gurugram-headquartered network infrastructure company SAR Televenture Ltd has acquired a majority stake in Mumbai-based internet service provider Tikona Infinet Ltd in a share swap deal for INR 578 crore. The company will also acquire Tikona's all India Unified License (ISP, Category-A), and National Long Distance (NLD) license through which Tikona offered services such as broadband, lease line and virtual private networks. With the acquisition, SAR Televenture will become the third largest player in the enterprise broadband segment.Post acquisition, SAR Televenture’s offerings will include commissioning 4G/5G towers, fiber-to-the-home services, optical fiber cable, enterprise network solutions, and retail broadband services.
In Mar-2017, Tikona had raised funding from CDIB Capital, Everstone, Goldman Sachs, IFC, Oak Investment Partners and others. In 2021, the company’s promoters Prakash Bajpai and Tarun Kumar had acquired shares from PE investors.
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