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The initial public offering of Tejas Networks was oversubscribed 1.88 times on the final day of the offer on Friday. The price band for the offer is ₹250-257 a share.
Fresh issue, OFS The IPO received bids for 3.21 crore shares against the total issue size of 1.71 crore shares, according to data available with the exchanges.
The public issue comprises fresh issue of shares worth ₹450 crore and an offer-for-sale of up to 1.27 crore shares.
The company had, on Tuesday, raised nearly ₹350 crore from anchor investors including Abu Dhabi Investment Authority, East Bridge Capital Master Fund, Amansa Holdings Pvt Ltd, Columbia Emerging Markets Fund, PI Opportunities Fund, SBI Life Insurance Company and Standard Life Investments Global Fund.
Tejas Networks designs, develops and sells high-performance and cost-competitive products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 60 countries.
Eris Lifesciences Meanwhile, the IPO of Eris Lifesciences was subscribed 12 per cent on the first day of bidding on Friday. The company plans to raise ₹1,741 crore through the issue, which closes on June 20. The price band of the issue is ₹600-603. Ahead of the issue, the company had raised ₹779.43 crore by allotting 1.29 crore shares at ₹603 a share to 21 anchor investors.
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