Grand Foundry board to consider NCDs for Tikona Infinet acquisition
- Board meeting scheduled for September 17, 2026
- Agenda includes NCD issuance for Tikona Infinet acquisition
- Equity fundraising via preferential allotment also considered
- Trading window closed for insiders until 48 hours post-meeting
*this image is generated using AI for illustrative purposes only.
Grand Foundry Limited has scheduled a Board of Directors meeting for September 17, 2026, to consider the issuance of Non-Convertible Debentures (NCDs) and potential equity fundraising. The company, formerly known as Grand Foundry Limited, now operates under the name Tikona Communication Limited.
The primary agenda item involves approving the proposal to issue NCDs on a private placement basis. The proceeds from this debt issuance are earmarked primarily for the acquisition of shares in M/s Tikona Infinet Private Limited. The purchase is from existing shareholders of Tikona Infinet, including Mr. Prakash Chandra Bajpai, Mr. Tarun Kumar, Mr. Sridhar Krishnamoorthy Iyer, and Krti Technologies Private Limited.
Fundraising and Regulatory Compliance
In addition to the NCD issuance, the board will consider fund-raising activities through the issuance of equity shares or warrants convertible into equity shares. These instruments may be issued through permissible modes, including preferential allotment, subject to receipt of requisite consents and approvals as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013.
The meeting is being convened pursuant to Regulation 29(1) read with Regulation 29(2) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. This prior intimation serves to inform stakeholders of the scheduled corporate actions before their formal approval.
Trading Window Closure
In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company’s Code of Conduct on prohibition of insider trading, the trading window for designated persons and insiders remains closed. The restriction will remain in effect until 48 hours after the declaration of the outcome of the board meeting.
Sonia Arora, Company Secretary and Compliance Officer, confirmed the intimation on September 12, 2026.
Historical Stock Returns for Grand Foundry
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.97% | +30.06% | 0.0% | +209.79% | 0.0% | +565.91% |
How will the acquisition of Tikona Infinet shares impact Tikona Communication's consolidated revenue streams and market share in the broadband sector?
What is the expected interest rate structure for the Non-Convertible Debentures, and how will this debt issuance affect the company's leverage ratios and credit rating?
Will the proposed equity fundraising via preferential allotment lead to significant dilution for existing shareholders, and at what valuation premium might these shares be issued?
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