Tejas Networks allots share worth Rs 349.51 crore to 17 anchor investors

NEW DELHI: Tejas Networks has finalized the allocation of 13,599,600 equity shares to 17 anchor investors at Rs. 257 per equity share aggregating to Rs. 349.51 crore.

"The company proposes to open on Wednesday, June 14, 2017, an initial public offering of equity shares of face value of Rs. 10 each  for cash (including a share premium) 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/ Offer will close on Friday, June 16, 2017," a statement said.

"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 statement said.

"The Book Running Lead Managers 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," it said.

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