IPO price band fixed at Rs 250-257 per share
The initial public offer (IPO) of Tejas Networks is set to open on 14 June 2017. The IPO comprises of fresh issue of equity shares aggregating up to Rs 450 crore and an offer for sale (OFS) of up to 1.27 crore equity shares by the selling shareholders. The price band for the IPO has been fixed at Rs 250-257 per share. The IPO closes on 16 June 2017.
The company intends to utilize the proceeds from the issue towards capital expenditure (payment of salaries), working capital requirement and general corporate purposes.
Tejas Networks designs, develops and sells high-performance and cost-competitive products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 60 countries.
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