Tejas Networks to trouble stocks, warrants to Tata Sons Co

Tejas Networks to trouble stocks, warrants to Tata Sons Co

by admin- Thursday, July 29th, 2021 03:38:44 PM

Tejas Networks accomplished definitive agreements with Panatone Finvest Ltd, a subsidiary of Tata Sons Private Ltd, with the intention to entail:

a) Preferential allotment of one.Ninety four crore fairness shares at a charge in line with equity share of Rs. 258 in line with proportion aggregating to Rs. 500 crore;

b) Preferential allotment of 3.68 crore warrants, each wearing a right to join 1 equity proportion at an exercising rate of Rs. 258 per equity proportion aggregating to Rs. 950 crore, which may be exercised by Panatone in a single or more tranches during the length setting out from the date of allotment of the warrants till expiry of 11
(11) months from the date of allotment of the warrants;

c) Preferential allotment of 1.55 crore warrants, each sporting a right to subscribe to 1 equity share at an exercise rate of Rs. 258 per fairness proportion aggregating to Rs. 400 crore, which can be exercised through Panatone in one or more tranches at some stage in the duration starting up from the expiry of twelve months from the date of allotment of the warrants till expiry of 18 (eighteen) months from the date of allotment of the warrants;

d) Acquisition of up to 13 lakh equity shares of the Tejas Networks from positive personnel in management, at a charge not exceeding Rs. 258 per fairness percentage aggregating to Rs. 34 crore, issue to such terms and conditions as at the same time agreed among the parties;

Panatone and different certain companies of the Tata group would make a Public Announcement to gather as much as four.03 crore fairness shares of Tejas Networks representing
26.00% of the rising vote casting capital in accordance with SEBI Takeover Regulations.

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