HFCL has signed a term sheet with Bigcat Wireless Pvt Ltd, Chennai, to acquire up to 47.87 per cent stake from its existing promoters through various tranches for ₹22.50 crore.
The company is acquiring a stake in Bigcat keeping in line with its thrust on addition of next generation products and solutions in wireless communication domain including 4G (LTE-advanced), 5G and other communication technologies, HFCL said. It’s not related party transactions, HFCL further clarified.