TEJAS NETWORKS LIMITED – INITIAL PUBLIC OFFER TO OPEN ON WEDNESDAY, JUNE 14, 2017, AND TO CLOSE ON FRIDAY,
PRICE BAND FIXED FROM RS. 250 TO RS. 257 PER EQUITY SHARE
Bengaluru. Tejas Networks Limited (the “Company” or “Issuer”) proposes to open on Wednesday, June 14, 2017, an initial public offering of equity shares of face value of Rs. 10 each (“Equity Shares”) for cash (including a share premium) (the “Offer”) comprising of a fresh issue of Equity Shares aggregating up to Rs. 4,500 million (“Fresh Issue”) and an offer for sale of up to 12,711,605 Equity Sharesby Selling Shareholders (“Offer For Sale”). The Bid/ 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.
The Book Running Lead Managers (“BRLMs”) to the Offer are Axis Capital Limited, Citigroup Global Markets India Private Limited, Edelweiss Financial Services Limited and Nomura Financial Advisory and Securities (India) Private Limited.
The Company may, in consultation with the BRLMs, consider participation by Anchor Investors in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended (“SEBI ICDR Regulations”). The Anchor Investor Bid/ offer Period shall be one Working Day prior to the Bid/Offer Opening Date; i.e., Tuesday, June 13, 2017.
The Equity Shares offered through the RHP are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).
In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) and in accordance with Regulation 26(2) of the SEBI ICDR Regulations, the Offer is being made through the Book Building Process, wherein 75% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”), provided that the Company and the Selling Shareholders may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”) at the Anchor Investor Allocation Price, out of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations. 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not more than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily use the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank accounts which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to participate in the Offer. For details, see “Offer Procedure” on Page 391 of the Red Herring Prospectus dated June 5, 2017 (“RHP”).
Tejas Networks designs, develops and sells high-performance and cost-competitive products to telecommunications service providers, internet service providers, utility companies, defence companies and government entities in over 60 countries. Tejas products utilize a programmable software-defined hardware architecture with a common software code-base that delivers an app-like ease of development and upgrades of new features and technology standards. Tejas is ranked amongst top-10 suppliers in the global optical aggregation segment and has filed over 300 patent applications.
For more information, visit Tejas Networks at http://www.tejasnetworks.com
TEJAS NETWORKS LIMITED is proposing, subject to applicable statutory and regulatory requirement, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the RHP with the RoC. The RHP is available on the website of SEBI at http://www.sebi.gov.in, as well as on the websites of the BRLMs, i.e. at http://www.axiscapital.co.in,www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm, http://www.edelweissfin.com, http://www.nomuraholdings.com/company/group/asia/india/index.html and the websites of the Stock Exchanges at BSE at www. bseindia.com and NSE at http://www.nseindia.com. Potential investors should note that investment in Equity Shares involves a high degree of risk, and for details relating to such risks, potential investors should refer to the section titled “Risk Factors” beginning on page 19 of the RHP.
Disclaimer Clause of the Securities and Exchange Board of (“SEBI”): SEBI only gives its observations on the offer documents and this does not constitute approval which will be blocked by the SCSBs to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion through the ASBA process. For of either the Offer or the specified securities or the offer document. The investors are advised to refer to page 369 of the RHP for the full text of the Disclaimer Clause of SEBI.
Disclaimer Clause of the BSE Limited (Designated Stock Exchange): “It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Red Herring Prospectus has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Red Herring Prospectus. The investors are advised to refer to the Red Herring Prospectus for the full text of the Disclaimer clause of the BSE Limited on page 373 of the RHP.”
Disclaimer clause of the National Stock Exchange of India Limited: “It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the ‘Disclaimer Clause of NSE on page 373 of the RHP.”
These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). These materials are not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.