Tikona Communication

Tikona Communication's board approved the issuance of up to ₹99.19 crore of secured unlisted non-convertible debentures to the sellers of Tikona Infinet Private Limited as purchase consideration for a 62.01% equity stake. The total consideration of ₹99.22 crore comprised ₹86.80 crore of 36-month NCDs carrying a 1% coupon, ₹12.39 crore of 12-month NCDs carrying a 6% coupon and ₹3.00 lakh in cash, with the NCDs secured against identified assets of SAR Televenture and subject to conditions precedent and shareholder approval for the related-party transaction. The board deferred a decision on a proposed preferential issue of equity shares or convertible warrants to a later meeting. The acquisition had been approved on 12 September for ₹99.22 crore via NCDs with closing by 31 March 2027. Tikona Infinet reported turnover of ₹218.86 crore in FY25, against Tikona Communication's own FY26 revenue of about ₹10.5 crore from telecom and fibre leasing. The company changed its name from Grand Foundry to Tikona Communication effective 11 September.

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Sept 14 (Reuters) - Tikona Communication Limited GRND.NS:

• TIKONA COMMUNICATION - TO CONSIDER ISSUANCE OF NCDS FOR TIKONA INFINET SHARE ACQUISITION

• TIKONA COMMUNICATION - TO CONSIDER FUND RAISING VIA EQUITY SHARES OR CONVERTIBLE WARRANTS

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Tikona Communication, formerly Grand Foundry, scheduled a September 17 board meeting to consider issuing non-convertible debentures through a private placement to help acquire shares of Tikona Infinet from its existing shareholders. The proposed sellers were Prakash Chandra Bajpai, Tarun Kumar, Sridhar Krishnamoorthy Iyer and Krti Technologies. Directors were also due to consider raising capital through equity shares or warrants convertible into equity shares, including a preferential allotment, subject to the required approvals. The company had changed its name from Grand Foundry to Tikona Communication on September 11 as it moved from steel foundry operations towards telecom and fibre leasing. Its FY26 revenue was about ₹10.5 crore and its net worth was negative ₹5.45 crore at year-end.

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Tikona Communication approved the acquisition of a 62.01% stake in Tikona Infinet for ₹99.22 crore, to be paid through the issuance of non-convertible debentures to the target’s existing shareholders. Tikona Infinet provides MPLS/VPN, leased-line and broadband services in India and recorded turnover of ₹218.86 crore in the year ended March 2025, compared with ₹175.22 crore a year earlier. The acquisition was expected to be completed by March 31, 2027, subject to the Securities Purchase Agreement and applicable laws. Tikona Communication reported FY26 revenue of about ₹10.5 crore from telecom and fibre leasing, while its FY26 net worth was negative ₹5.45 crore.

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March 3 (Reuters) - Grand Foundry Ltd GRND.NS:

• SAR TELEVENTURE TO BUY 70.17% STAKE IN CO FROM PROMOTERS, DIRECTORS

• DEAL FOR 1.50 RUPEE PER SHARE, TOTAL 32 MILLION RUPEES

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Jan 6 (Reuters) - Grand Foundry Ltd GRND.NS:

• ASHISH KUMAR HAS RESIGNED FROM POST OF EXECUTIVE DIRECTOR AND CEO

• SHIVANI JAIN HAS RESIGNED FROM THE POST OF DIRECTOR AND CFO

• APPOINTS NITIN GUPTA AS CFO

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Jan 5 (Reuters) - Grand Foundry Ltd GRND.NS:

• GAURAV GOYAL APPOINTED AS EXECUTIVE AND MANAGING DIRECTOR

• ASHISH KUMAR RESIGNS AS CEO

• SHIVANI JAIN RESIGNS AS CFO

• NITIN GUPTA APPOINTED AS CFO

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June 20 (Reuters) - Grand Foundry Ltd GRND.NS:

• NAMES ASHISH KUMAR AS CHIEF EXECUTIVE OFFICER

• CHIEF EXECUTIVE OFFICER VIJAY PAUL KAUSHAL RESIGNS

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Aug 11 (Reuters) - Grand Foundry Ltd GRND.NS:

• NAMES SHIVANI JAIN AS CFO

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July 14 (Reuters) - Grand Foundry Ltd GRND.NS:

• ANOOP RAMPRASAD KABRA RESIGNS AS CFO

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