Grand Foundry buys 62% of Tikona Infinet for ₹99.22 crore, or roughly $10M
What's the deal? Grand FoundryDealroom has a profile for this one. Try Dealroom → has agreed to acquire a 62.01% controlling stake in Tikona InfinetDealroom has a profile for this one. Try Dealroom → for ₹99,22,00,380 — about $10 million — pushing deeper into telecom and digital connectivity. Its board approved the acquisition on September 12, 2026.
What each side does: Tikona Infinet, founded in 2008 by Prakash Bajpai, sells wireless broadband, MPLS/VPN services, and dedicated leased lines to corporate and SME clients in banking, IT, healthcare, and manufacturing. It operates across India's Tier-1 cities.
The terms: Grand Foundry — now known as Tikona Communication LimitedDealroom has a profile for this one. Try Dealroom → — will pay by issuing Non-Convertible Debentures (NCDs) worth ₹99.22 crore. It is buying equity shares from Tikona Infinet's existing shareholders.
By the numbers: Tikona Infinet posted turnover of ₹218.86 crore in FY25, up from ₹175.22 crore in FY24 and ₹190.60 crore in FY23. That upward trajectory underpins the strategic case for the deal.
Why now? The acquisition aligns with Grand Foundry's push to broaden its service portfolio and market presence. It expects operational synergies, improved efficiency, and cost optimisation from folding in Tikona Infinet's connectivity business.
The fine print: The transaction is not a related-party deal; the buyer's promoters and group companies hold no interest in the target. No regulatory approvals are envisaged beyond standard legal consents, and completion is expected by March 31, 2027, subject to the Securities Purchase Agreement.
The signal: Buying control of a growing regional broadband operator lets Grand Foundry scale connectivity services without building from scratch — a bet on consolidation in India's fragmented telecom market.
Image credit: Generated with Gemini
