Leading telecom equipment maker Tejas Networks Ltd on Wednesday 7th June 2017 said it will launch its initial public offering (IPO) on 14 June an initial public offering 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 company has fixed a price band of Rs250-257 per share for the IPO. The offering will close on 16 June. Bids can be made for a minimum of 55 Equity Shares and in multiples of 55 equity shares thereafter.
Investors selling shares in the IPO include Cascade Capital Management Mauritius, India Industrial Growth Fund (Frontline Strategy), Intel Capital and Sandstone Capital. Other investors in the company include the likes of Goldman Sachs, Mayfield and Samena Capital.
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.
About Tejas Networks Ltd
Tejas is an optical and data networking products company with customers in over 60 countries. It designs, develops and sells high-performance and cost-competitive products to telecommunications service providers, internet service providers, utility companies, defence companies and government entities.
Its products find application in building high-speed communication networks that carry voice, data and video traffic from fixed line, mobile and broadband networks over optical fibre.
As of 30 April, Tejas Networks has filed 333 patent applications, with 203 filings in India, 89 filings in the US and 6 filings in Europe, out of which 56 patents have been granted.
The company follows an asset-light strategy by outsourcing most of its manufacturing to reputed electronics manufacturing services companies. The strategy allows it to scale up production without requiring a corresponding increase in capital expenditure towards building its own manufacturing operations.
For the financial year 2016-17, Tejas Networks reported a revenue of Rs865.3 crore, up from Rs625.5 crore in the previous financial year. It reported a profit of Rs53.2 crore in 2016-17, compared to a profit of Rs27.4 crore the previous year.
Tejas Networks Limited IPO GMP Trend Report:
- On 09.06.2017 at 05.00 am GMP Rs. 38 – 40 Kostak 250-300
- On 09.06.2017 at 11.00 am GMP Rs. 41 – 43 Kostak 250-300
- On 08.06.2017 at 3.00 pm GMP Rs. 48 – 50 Kostak 250-300
- On 08.06.2017 at 11.00 am GMP Rs. 48 – 50 Kostak 350
Tejas Networks Limited IPO Issue Detail:
- Issue Open: The issue opens on Jun 14, 2017 and closes on Jun 16, 2017
- Issue Type: Book Built Issue IPO
- Price Band: Rs. 250 – Rs. 257 Per Equity Share
- Lot Size: 55 equity shares and in multiple thereafter
- Issue Size: 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.
- Mode of Payment: ASBA is mandatory (cheques will not be accepted)
- Listing On: BSE, NSE
- 14th June – Offer Opens
- 16th June – Offer Closes
- 21st June – Finalisation of Basis of Allotment
- 22nd June – Initiation of refunds
- 23rd June – Credit to Demat Accounts
- 27th June – Listing on NSE & BSE
Company Contact Information
Tejas Networks Limited
J.P. Software Park, Plot No. 25,
Sy.No. 13, 14, 17 & 18, Konnapana Agrahara Village
Begur Hobli, Bengaluru 560 100
Phone: +91 80 4179 4600
Fax: +91 80 2852 0201
Registrar to the IPO
Link Intime India Private Ltd,
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai 400078