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Tejas Networks IPO to open on 14 June, price band Rs 250 to Rs257

LiveMint logoLiveMint 07-06-2017 PTI

New Delhi: Tejas Networks, which designs and develops products for telecom service providers, will launch its initial public offer (IPO) on 14 June and has fixed the price band of Rs250-257 per share to raise about Rs776 crore.

The offer comprises fresh issue of equity shares worth up to Rs450 crore and an offer for sale of up to 12,711,605 shares. The bidding for the offer will close on 16 June.

Bids can be made for a minimum of 55 shares and in multiples of 55 shares thereafter, a company statement said. Axis Capital Ltd, Citigroup Global Markets India Pvt Ltd, Edelweiss Financial Services Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book running lead managers (BRLMs) to the offer. Shares of the company are proposed to be listed on BSE and National Stock Exchange (NSE).

Tejas Networks designs, develops and sells high- performance and cost-competitive products to telecom service providers, internet service providers, utility companies, defence companies and government entities in over 60 countries.

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