Tata Sons subsidiary Panatone Finvest is picking up a controlling 43.3% stake in Tejas Networks for Rs 1850 crore. Subsequently Texas will invest both organically and inorganically in R&D, sales and marketing, manpower and manufacturing.
Once touted as India’s Telecom equipment poster boy much before today’s ‘atmanirbhar’times, Tejas will use the Tata group association to build a financially stronger company to address a larger market. This was reiterated by Sanjay Nayak, CEO &MD, Tejas Networks who will continue in his role with the existing management team.
The new avatar of Tejas plans to create a full stack of wireline and wireless priducts. The company believed there is a very large opportunity in the Telecom sector both in India and globally with the new cycle of investments in 5G and fiber based broadband rollouts
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