Home >Market >Stock-market-news >Tejas Networks to make stock market debut on 27 June after IPO

New Delhi: Tejas Networks, which concluded its initial public offer (IPO) last week, is set to make its debut on the BSE and the National Stock Exchange (NSE) on 27 June.

The company’s IPO was oversubscribed 1.88 times, with the portion for qualified institutional buyers (QIBs) getting oversubscribed 2.16 times, while categories for non-institutional investors and retail investors getting oversubscribed 48 and 3.10 times. The price band for the offer was fixed at Rs250-257 per share.

Tejas Networks is into developing and selling high-performance products to telecom service providers, utility companies, defence firms and government entities, among others, and is spread over 60 countries. Axis Capital Ltd, Citigroup Global Markets India Pvt Ltd, Edelweiss Financial Services Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd were the book running lead managers for the offer.

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