Grand Foundry to Acquire 62.01% of Tikona Infinet for ₹99.22 Cr

Grand Foundry Ltd announced its Board of Directors has approved the acquisition of a 62.01% stake in Tikona Infinet Private Limited for ₹99.22 crore. The consideration will be paid through Non-Convertible Debentures issued by Tikona Communication Limited. Tikona Infinet, established in 2008, provides wireless broadband services to home and enterprise customers in India and had a turnover of INR 218.86 crore for the financial year ended March 31, 2025. This acquisition aligns with Grand Foundry's strategy to expand its presence in the telecom and digital connectivity sector, aiming for enhanced business opportunities, operational synergies, and a strengthened competitive position. The deal is expected to be completed by March 31, 2027, subject to SPA conditions.