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Tejas Networks up to $120 million IPO oversubscribed 1.9 times


(Reuters) - India's Tejas Networks Ltd's up to 7.7-billion-rupee ($120 million) initial public offer (IPO) of shares was oversubscribed 1.88 times on the last day of the sale on Friday, stock exchange data showed.Investors bid for about 32.1 million shares in the optical and data networking products provider, compared with about 17.1 million shares on offer, according to data on the National Stock Exchange, as of 1320 GMT. Networks is raising up to 4.5 billion rupees by selling new shares, while its shareholders are selling another up to 12.7 million shares in a ...

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First Published: Fri, June 16 2017. 19:05 IST