Premji Invest picks up a stake in Tanla Platforms

Cloud communications service provider, Tanla Platforms, has said marquee investor Premji Invest, the investment arm of Azim Premji's endowment and philanthropic initiatives, has invested in the company. This announcement came in the form of a tweet by the company's CEO Uday Reddy.

Two funds associated with Premji Invest, Pioneer Investment Fund, bought 13.50 lakh shares & Prazim Trading Investment Company Private Ltd bought about 6.52 lakh shares at a premium of Rs 1,200, aggregating about Rs 250 crores. These funds bought the shares sold by Banyan Investments Limited in the secondary market.
"We welcome Premji Invest to our list of marquee investors. Mr. Azim Premji is a luminary best known for building global businesses, and a gold standard for corporate governance and philanthropy. Look forward to this association into the future!" Uday Reddy shared on Twitter.


Premji Invest focuses on early and late-stage investments targeting India's consumer, financials, technology, and manufacturing companies.

Tanla has attracted several domestic & foreign institutional investors lately. SBI Life Insurance Company Ltd & Smallcap World Fund Inc had also picked up stakes in Tanla in June 2021.

Tanla also operates a blockchain-based solution deployed by Indian telecom companies to check the flow of spam SMSes on their network. The Distributed Ledger Technology (DLT) platform, Trubloq, which went live in September 2020, processes more than 350 billion interactions annually and about 65 % of India’s A2P SMS traffic, making it one of the world’s largest Blockchain use cases.

Investors are bullish on Tanla Platforms after it reported earnings growth in the September-ended quarter with a net profit of Rs 136 crores, a rise of 67% in the corresponding quarter of the previous year.