Liquidity Events
SAR Televenture to acquire Tikona Infinet for Rs.669-Cr
Gurugram-headquartered network infrastructure company SAR Televenture will acquire a 91% stake in Mumbai-based internet service provider Tikona Infinet for INR 669.04 crore in a cash and stock deal.Post deal, the SAR Group will become an integrated telecom services provider with a presence in ISP services, IP1 services, broadband and enterprise services.In FY24, the registered sales of the 2008-established Tikona, which provides high-speed internet and data services to residential, commercial, and enterprise customers across 300 cities in the country, stood at INR 192.86 crore. Tikona's clients include HDFC Bank, ICICI Bank, Axis Bank, NSE, BSE, Ujjivan Bank, Indigo AirLine, Spice Jet, Tata Communications and Cipla.
Between 2009 and 2014, Tikona had raised about USD 200 M from various investors including Everstone, GoldmanSachs, IFC and others.
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