Bengaluru-based India’s first electronics design and product firm, Tejas Networks is planning to raise funds through the route of initial public offering by July 2017.
The Company believes that there will be strong growth in its business as the data consumption in the country is rising by astonishing rates. They will raise Rs 450 cr in fresh funds via offer of 12.6 million shares by investors who backed the company for nearly past 17 years.
The Company may grow at a healthy rate since the telecom operators in the country are competing to offer high speed internet service at reasonable prices. The business of the companies like Tejas which offer locally built products and solutions to the customers can witness high growth in coming time.
The funds raised through IPO would be used to invest in research and development for improving their products to suit Indian and global markets.
Tejas Networks is an India-based optical and data networking products company.
Tejas 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.