Latest news with #AshokAtluri
Time of India
24-06-2025
- Business
- Time of India
Zen Tech Buys 55% stake in Hyderabad defence drone firm: Stock hits 5% upper circuit on acquisition news; sector in focus post Operation Sindoor
HYDERABAD: With the spotlight on the defence drone sector post Operation Sindoor, Hyderabad-based anti-drone tech player Zen Technologies has acquired majority stake in emerging defence technology player TISA Aerospace, which specialises in developing indigenous loitering munitions and unmanned aerial vehicles (UAVs). Zen Technologies acquired around 54.7% stake in Hyderabad-based TISA Aerospace for a consideration of nearly 6.6 crore. This is being done through the acquisition of 2,06,518 equity shares from existing shareholders in the company. Zen Technologies will also acquire another 4 lakh 6% compulsory convertible debentures of TISA. News of the acquisition, which marks Zen Technologies' foray into the fast growing domain of loitering munitions, UAVs, and precision-guided weaponry, powered the company's scrip to the 5% upper circuit at 1995.3 a share on Bombay Stock Exchange on Monday compared to the previous closing price of 1,900.3 a share. Zen CMD Ashok Atluri said TISA's expertise in loitering munitions will provide the company immediate access to advanced technologies and platforms to cater to emerging operational requirements of armed
The Hindu
23-06-2025
- Business
- The Hindu
Zen Tech shares surge on acquisition of stake in defence tech firm TISA Aerospace
Zen Technologies shares hit the upper circuit on Monday after the defence training and anti-drone solutions provider announced it is acquiring majority stake in emerging defence technology firm TISA Aerospace that specialises in loitering munitions and unmanned aerial vehicles. 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.
Business Standard
23-06-2025
- 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.
Time of India
23-06-2025
- 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)
The Hindu
14-06-2025
- Business
- The Hindu
Indigenous innovation is India's strongest shield: FICCI defence panel leader
Operation Sindoor proved indigenous innovation is India's strongest shield, Federation of Indian Chambers of Commerce & Industry (FICCI) National Defence and Homeland Security Committee Co-Chair Ashok Atluri said on Friday. 'Homegrown drones, equipped with inbuilt detectors, jammers and radars, successfully neutralised Chinese drone threats without a single imported component,' Mr. Atluri said, addressing MSME Xcelerate 2025, organised by the FICCI. He said that research and development is not a luxury but a necessity for companies, especially Micro, Small and Medium Enterprises (MSME). 'While day-to-day operations may feel all-consuming, ignoring R&D risks irrelevance. Identifying the right area and committing focus can lead to transformative breakthroughs. India must innovate for the world, not just for local markets... funding is no longer a barrier,' he said. FICCI in a release said that the event with 'Innovation, Technology, Sustainability' as its theme sought to empower MSMEs by connecting them with emerging technologies, sustainable practices, and smart financial strategies. National Small Industries Corporation (NSIC) Zonal Head and General Manager V. Suresh Babu said NSIC is a key enabler for MSMEs across India, helping them market their products to government departments and public sector units. As an NSIC-registered member, MSMEs enjoy several benefits, including exemption from tender fees and security deposits, making it easier to participate in government tenders. Chairman of FICCI Telangana Defence and Aerospace Committee P. Radhakishore said that while the government of India has taken commendable steps to support MSMEs through regulatory reforms, compliance ease, and sustainability-focused schemes, support at the State level remains limited despite MSMEs being vital contributors to GDP and employment. FICCI Telangana State Council Chairman V.V. Rama Raju and Executive Committee member Deepti Gaddam spoke.
