Grand Foundry acquires 62% stake in Tikona Infinet for ₹99.22 crore
- Grand Foundry acquires 62.01% stake in Tikona Infinet for ₹99.22 crore
- Consideration paid via Non-Convertible Debentures (NCDs)
- Target posted turnover of ₹218.86 crore in FY25, up from ₹175.22 crore in FY24
- Deal aims to expand telecom and digital connectivity portfolio
- Completion expected by March 31, 2027
*this image is generated using AI for illustrative purposes only.
Grand Foundry board approved the acquisition of a 62.01% stake in Tikona Infinet Private Limited for an aggregate consideration of ₹99.22 crore. The move expands the company’s footprint in the telecom and digital connectivity sector.
The Board of Directors sanctioned the deal during a meeting held on September 12, 2026. The transaction involves purchasing equity shares from existing shareholders of the target company, which provides wireless broadband services for home and enterprise customers.
Deal Structure and Consideration
Tikona Communication Limited, formerly known as Grand Foundry Limited, will discharge the consideration through the issuance of Non-Convertible Debentures (NCDs). The aggregate value of these NCDs is ₹99,22,00,380. This payment secures 1,27,89,817 equity shares, representing the controlling stake in the target entity.
The acquisition is not classified as a related-party transaction. Promoters and group companies of the listed entity hold no interest in Tikona Infinet. The deal is subject to the fulfillment of terms outlined in the Securities Purchase Agreement (SPA).
Target Company Profile
Tikona Infinet Private Limited operates in the telecom industry, offering MPLS/VPN services, dedicated leased lines, and broadband connectivity. Established in 2008 by Prakash Bajpai, the firm serves corporate and SME clients across banking, IT, healthcare, and manufacturing sectors.
The target has a presence in major Tier-1 cities across India. Its revenue trajectory shows recent growth:
| Fiscal Year | Turnover |
|---|---|
| FY25 | ₹218.86 crore |
| FY24 | ₹175.22 crore |
| FY23 | ₹190.60 crore |
Strategic Impact
The acquisition aligns with Grand Foundry’s strategy to enhance its service portfolio and market presence. Expected outcomes include operational synergies, improved efficiency, and cost optimization. The company aims to strengthen its competitive position in the connectivity sector.
Regulatory approvals are not currently envisaged beyond standard legal consents required under applicable laws. The acquisition is expected to close by March 31, 2027, contingent upon SPA conditions.
Historical Stock Returns for Grand Foundry
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.96% | 0.0% | +39.67% | 0.0% | 0.0% | 0.0% |
How will the issuance of ₹99.22 crore in Non-Convertible Debentures impact Grand Foundry's debt-to-equity ratio and future interest coverage?
What specific operational synergies and cost optimization measures are expected to materialize from integrating Tikona Infinet's MPLS/VPN services with Grand Foundry's existing portfolio?
Given Tikona Infinet's revenue growth trajectory, what is the projected contribution of this acquisition to Grand Foundry's consolidated turnover in FY27 and beyond?
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