Tejas Networks IPO subscribed by 2% on first day of Subscription

On the first day of its subscription, Tejas Networks Limited got subscribed by 2% as of 1100 hours. The total issue size of IPO stood at 1,71,12,005 shares. The total bids received by the IPO stood at 2,81,490 shares and total bids received at cutoff price stood at 2,23,355 shares at the prescribed time.
 
Consisting of equity shares of face value of Rs 10 each for cash, the IPO also comprises 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.
 
Citigroup Global Markets India Private Limited, Axis Capital Limited, Edelweiss Financial Services Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (BRLMs) to the offer.
 
The equity shares offered through the RHP are proposed to be listed on the Bombay Stock Exchange (BSE) Limited and National Stock Exchange of India Limited (NSE).