Tejas IPO will offer exits to Desh Deshpande, Mayfield, Intel Capital

Tejas builds equipment that allows high speed data on optical fibre networks

India's first electronics design and product firm Tejas Networks will raise funds in an initial public offer by July, giving longstanding investors such as Silicon Valley entrepreneur Desh Deshpande, Mayfield Partners and Intel Capital an exit in the company.

The Bengaluru-based firm, which is betting on the country's shift towards data consumption an opportunity to grow its business will raise Rs 450 crore in fresh funds, in addition to an offer of 12.6 million shares by investors, who backed the 17-year-old company.

Tejas, which builds equipment that allows high speed data on optical fibre networks, has raised around Rs 400 crore as