Tejas Networks IPO Oversubscribed By 188% On Last Day Of Subscription


Tejas Networks Limited got over-subscribed by 1.88 times on its last day of subscription on Friday. The total issue size of IPO stood at 1,71,12,005 shares. The total bids received by the IPO stood at 3,21,43,870 shares and total bids received at cut-off price stood at 80,18,835 shares at the prescribed time.

IPO consists of equity shares of face value of Rs 10 each for cash, comprising of a fresh issue of equity shares, aggregating up to Rs 4,500 million and an offer for sale of up to 12,711,605 equity shares by Selling Shareholders. The bid or offer will close on Friday, June 16 2017.

The price band for the offer is fixed from Rs 250 to Rs 257 per equity share. Bids can be made for a minimum of 55 equity shares and in multiples of 55 equity shares thereafter.

The Book Running Lead Managers (BRLMs) to the offer are Axis Capital Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Nomura Financial Advisory and Securities (India) Private Limited.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE).

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