Tejas Networks to launch Rs 777-crore IPO next week

The price band for the offering is fixed at Rs 250-257 per share

Telecom equipment provider Tejas Networks will launch itsRs 777-crore initial public offering (IPO) on June 14. The company is looking to raiseRs 450 crore by issuing fresh equity capital through the IPO. The issue will also comprise secondary share sale worthRs 326 crore. The Tejas IPO plans to cash in on the surge in demand for data services and need to fill the infrastructure gap in the country.

“India has little fibre optic connectivity, as telecom providers have traditionally focused on voice rather than data services. However, the amount of traffic on data networks has increased greatly over the