Latest news with #TISAAerospace
Time of India
an hour ago
- Business
- Time of India
Zen Technologies acquires 55% stake in Raghu Vamsi Group's defence drone company TISA Aerospace
HYDERABAD: With the spotlight on the defence drone sector post Operation Sindoor, Hyderabad-based anti-drone tech player Zen Technologies Limited has acquired majority stake in emerging defence technology player TISA Aerospace Pvt Ltd, which specialises in indigenously developing loitering munitions and unmanned aerial vehicles (UAVs). Zen Technologies will be acquiring around 54.7% stake in Hyderabad-based TISA Aerospace for a consideration of nearly Rs 6.6 crore. This it will be doing through the acquisition of 2,06,518 equity shares from existing shareholders in the company. Zen Technologies will also be acquiring another 4 lakh 6% compulsory convertible debentures of TISA, which was set up by Raghu Vamsi Group's promoter Vamsi Vikas Ganesula and Kiran Kumar Vagga in December 2020. News of the acquisition powered Zen Technologies shares to the 5% upper circuit at Rs 1995.30 a share on the Bombay Stock Exchange on Monday as compared to the previous sessions close of Rs 1900.30 a share. The move marks Zen Technologies' foray into the rapidly growing domain of loitering munitions, UAVs and precision guided weaponry. Zen Technologies chairman and managing director Ashok Atluri said the move would beef up the company's presence in the rapidly evolving defence drone sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo '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,' he said. Pointing out that TISA has achieved significant R&D milestones, which includes the successful execution of a project for DRDO with critical design assistance from IIT Madras, Atluri said: 'By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio.' He said the move is in line with India's 'urgent need' for self-reliance in defence capabilities, particularly in drones and loitering munitions. 'We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets,' Atluri added. TISA Aerospace is focused on the design, development, and manufacture of advanced loitering munitions and UAVs tailored for defence applications. The company has successfully delivered loitering munitions meeting DRDO specifications and is developing new variants for the Indian Army. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
3 hours ago
- Business
- Business Standard
Zen Tech jumps after board nod to acquire majority stake in TISA Aerospace
Zen Technologies rallied 4.01% to Rs 1,976.50 after the company's board has approved the acquisition of TISA Aerospace (TISA) through a mix of share purchase plus compulsorily convertible debentures (CCDs) from current shareholders of TISA. TISA Aerospace is engaged in the design and development of UAVs for the defence industry. Its turnover was Rs 1.81 crore in FY25. As a part of the deal, Zen Technologies will acquire 2,06,518 equity shares or 54.67% stake in TISA Aerospace, along with 4,00,000 CCDs with a 6% interest rate and a face value of Rs 100 each, from an existing CCD holders. The board has approved a total investment of up to Rs 6.56 crore for the acquisition. This investment represents a focused entry into the high-growth domain of loitering munitions and the ecosystem around it a rapidly evolving category of precision-guided weaponry that has demonstrated significant operational relevance in modern warfare. The acquisition of the shares and CCDs are expected to be completed by Q2 of FY 2025-26, subject to completion of customary closing formalities. Ashok Atluri, chairman and managing director of Zen Technologies, said, This acquisition is a decisive step towards strengthening Zens position in the rapidly evolving defence drone sector. TISAs 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. TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio. This move is well-aligned with Indias urgent need for self-reliance in defence capabilities, particularly in drones and loitering munitions. We see strong potential in product integration across platforms, enabling us to scale faster and compete more effectively in both domestic and global markets. Zen Technologies is a pioneer and leader in providing world class state-of-the-art defence training and anti-drone solutions and has a proven track record in building training systems for imparting defense training and measuring combat readiness of security forces. The companys consolidated net profit surged 189.18% to Rs 101.04 crore on 129.86% jump in revenue from operations to Rs 324.97 crore in Q4 FY25 over Q4 FY24.
Hans India
6 hours ago
- Automotive
- Hans India
Markets Nosedive: Sensex Plunges 850 Points, Nifty Slips Sharply as Media Stocks Shine
Stock market live updates: The company expanded its capabilities within the Software-Defined Vehicles space by establishing two new automotive delivery centres in Germany and a Romanian engineering center, with the aim of driving transformation in this sector. Markets took a hit today, with the BSE Sensex live shedding 852.55 points to end at 81,555.62. Similarly, the Gift Nifty lost 258.95 points, closing at 24,853.45. Around 1152 shares rose, 2055 declined, and only 165 shares remained unchanged. China, India and South Korea consume around 65% of the oil that is transported through the Strait of Hormuz. Zen Technologies has completed the acquisition of a majority stake in TISA Aerospace, expanding its footprint in the aerospace sector. This emerging defence technology firm specializes in loitering weapons and unmanned aerial vehicle (UAV) developed in-house. The deal will involve buying NSE shares from current TISA shareholders, along with issuing convertible debentures that will latterly turn into TISA equity Godrej Properties sold an inventory of over Rs. 2,000 crores at the launch of Barca @ Godrej MSR City in Devanahalli. Godrej MSR City spans a massive 5.6 million square bases, situating it as a high-implicit share market occasion. The company has unlaunched inventory that it plans to sell over the next few years. NLC India Renewables (a subsidiary of the company) has received a Letter of Award from Tamil Nadu Green Energy Corporation for three Battery Energy Storage System projects. The BESS systems have a combined capacity of 250 MW/500 MWh and can complete two charging/discharging cycles for on-demand use.
Time of India
9 hours ago
- Business
- Time of India
Zen Technologies shares in focus after board approves acquisition of TISA Aerospace
Shares of Zen Technologies are likely to be in focus on Monday, June 23, following the company's announcement of a proposed acquisition of a majority stake in TISA Aerospace, an emerging defence technology firm specialising in loitering munitions and unmanned aerial vehicles (UAVs). In an exchange filing, Zen Technologies disclosed that its Board of Directors, at a meeting held on Saturday, approved an investment of up to Rs 6.56 crore towards the proposed acquisition. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Costco Shoppers Say This Wrinkle Cream Is "Actually Worth It" The Skincare Magazine Undo The investment will be executed through two components: The acquisition of 2,06,518 equity shares of Rs 10 each from an existing shareholder of TISA Aerospace, representing 54.67% of the total equity paid-up share capital of the company. The acquisition of 4,00,000 units of 6% Compulsory Convertible Debentures (CCDs) of Rs 100 face value each, from an existing CCD holder, also issued by TISA. The Board of Directors has unanimously approved the investment, which involves acquiring shares from current stakeholders of TISA as well as CCDs previously issued by TISA. The company stated that the transaction represents an investment in a domain of strategic relevance, comprising indigenously developed defence technologies. Live Events TISA Aerospace is positioned as a domestic player within the high-technology defence ecosystem. The company is engaged in the development of loitering munitions and UAVs—both of which are key segments within the evolving landscape of modern precision-guided weapon systems. Zen Technologies, through this acquisition, is entering a segment associated with advanced defence applications. 'This acquisition is a decisive step towards strengthening Zen's position in the rapidly evolving defence drone sector. 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. TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio,' said Ashok Atluri, Chairman and Managing Director of ZenTechnologies. Also read: How will US strikes on Iran affect Indian markets this week? Shares of Zen Technologies closed flat at Rs 1,900.30 on the BSE on Friday. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
