Tejas Networks makes quiet debut, lists at issue price of Rs 257

Shares of Tejas Networks  debuted at Rs 257, its initial public offer (IPO) price on the National Stock Exchange (NSE) and BSE. At 10:04 am; the stock was trading 1% higher at Rs 260 on NSE against its issue price after hitting a high of Rs 264 in intra-day trade. On BSE, it hit a high of Rs 266 in intra-day trade so far. A combined 5.08 million shares changed hands on the counter on BSE and NSE so far. The company's initial public offer (IPO) was oversubscribed 1.88 times, with qualified institutional buyers' (QIBs) portion getting oversubscribed 2.16 times, non institutional investors 48% and retail investors 3.10 times. Price band for the offer was fixed at Rs 250-257 per share and was open for bidding from June 14-16. Financial Astrology Tips

Tejas Networks is an optical & data networking products Company that designs, develops & sells high-performance and cost-competitive products to telecommunications service providers, internet service providers, utility companies, defence companies and government entities. The products are used to build high-speed communication networks that carry voice, data & video traffic from fixed line, mobile & broadband networks over optical fibre. Currently domestic business contributes 65% of the revenue. The key clientele for Tejas includes BBNL, BSNL, PGCIL, RailTel, Airtel, Idea and Aircel. It also has an international clientele base in the form of OEMs such as Ciena, NEC and Sacofa (direct). In FY17, top five clients have contributed 58.2% to the revenues. Astrology and Numerology Trading Tips