Postal ballot for sale of 90.82 percent stake in Fusionnet Web to Tikona for about 257 crore
SARTELE · price
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On the reaction day the stock moved 2.1 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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SAR Televenture is seeking shareholder approval via postal ballot to sell its 90.82 percent stake (1.28 crore shares) in material subsidiary Fusionnet Web Services to related party Tikona Communication for about 256.84 crore. Payment will be in 3.20 percent Redeemable Preference Shares of Tikona, redeemable in 10 years. The deal is part of internal group restructuring to consolidate telecom and digital infrastructure. Fusionnet will become a step-down subsidiary of SAR. E-voting ends November 5, 2026.
Internal group restructuring with non-cash consideration. Stock may see limited reaction; focus on shareholder vote outcome by November 5.