Zen Tech shares surge on acquisition of stake in defence tech firm TISA Aerospace
This will mark the company's entry into the high-growth domain of loitering munitions and the ecosystem around it. It is a rapidly evolving category of precision-guided weaponry that has demonstrated significant operational relevance in modern warfare, Zen said, announcing its Board approval for ₹6.56 crore investment towards acquisition of nearly 55% stake and 4 lakh compulsorily convertible debentures. Zen shares ended 5% - upper circuit – at ₹1,995.30 each on the BSE.
'TISA's expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces,' Chairman and Managing Director Ashok Atluri.
TISA has achieved significant research and development milestones, including successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with its existing strengths in anti-drone systems and propulsion technologies, Zen said it sought to build a broader and more future-ready defence portfolio.
'We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets,' he said in a release. TISA was founded in December 2020.
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