Sar Televentures Calls Off Rs 669-Cr Deal To Acquire Tikona Infinet

New Delhi: Telecom infrastructure firm Sar Televentures has called off a Rs 669-crore deal to acquire internet service provider Tikona Infinet due to delays in regulatory approvals, the company said on Monday.

Sar Televentures had signed a deal to acquire a 91 per cent stake in Tikona Infinet in a share swap agreement valued at around Rs 669 crore in 2024.

“The Board of Directors of SAR Televenture Limited (“Company”), at its meeting held today, ie, September 7, 2026, has considered and approved the withdrawal of the application dated April 4, 2025, submitted to the National Stock Exchange of India Limited in connection with the proposed issuance of 1,26,06,000 equity shares of the Company…pursuant to the proposedacquisition of Tikona Infinet,” a regulatory filing said on Monday.

Sar Televentures had signed a share purchase agreement with Tikona on October 29, 2024.

“Further, upon review of the proposed transaction and taking into consideration the inordinate delay in obtaining the requisite approval from the Exchange, the Board of Directors has also approved the cancellation of the Share Purchase Agreement dated October 29, 2024 entered into between the shareholders of Tikona and the Company in relation to the proposed acquisition of Tikona,” the filing said.

The acquisition of Tikona Infinet could have led to the expansion of Sar Televentures into the internet services business. Sar Televentures is currently engaged in tower infrastructure, fibre network deployment, enterprise solutions, etc.

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