Sar Televenture has called off its proposed ₹669 crore acquisition of Tikona Infinet, citing long delays in receiving necessary regulatory approvals. The company also withdrew its application for the related share issuance. This move ends the firm's planned entry into the internet services sector, forcing a refocus on its core telecom infrastructure operations.
Sar Televenture Limited has formally ended its plans to acquire Tikona Infinet, a deal that was valued at approximately ₹669 crore. The company board approved the decision on September 7, 2026, citing inordinate delays in obtaining the required approvals from the stock exchange for the transaction.
As part of the withdrawal, the company is cancelling the Share Purchase Agreement signed on October 29, 2024. Furthermore, the company has officially withdrawn its application to the National Stock Exchange for the issuance of 1,26,06,000 equity shares that were part of the share-swap agreement meant to fund the acquisition.
The acquisition was a significant part of the company's strategy to diversify its business. While Sar Televenture currently focuses on tower infrastructure, fibre network deployment, and enterprise solutions, the purchase of Tikona Infinet was intended to provide a direct entry into the internet services provider market. By cancelling the deal, this expansion path has been effectively closed.
For investors, the cancellation brings immediate strategic uncertainty. The company has not announced any alternative plans or a new target to replace the Tikona acquisition. This leaves the firm to rely on its existing portfolio to drive growth. Shareholders may now watch for management commentary on whether the company will seek new acquisition opportunities or focus exclusively on organic growth in its current business lines.
The collapse of this deal also highlights the risks involved in large-scale corporate transactions that depend on lengthy regulatory approval processes. With the planned share issuance now withdrawn, the company avoids the dilution that would have occurred, but it also misses the intended boost to its operational scale in the broadband sector. The next important step for investors to monitor will be any updates on the company’s capital allocation strategy and future growth plans.