Tejas Networks Limited is a Bangalore based Indian company incorporated in year 2000. Being a data networking and optical products company, it has broad customer base in India and abroad. The company is coming up with initial public offering on June 7, 2017. Lets find what the Tejas Networks Limited IPO review tells us.
Issue opens on: June 7, 2017
Issue closes on: June 9, 2017
Face Value: Rs. 10 each
Issue Price : Rs. 10
Issue size : 12,711,605 nos. of equity shares
Exchange : NSE, BSE
Objectives of IPO
Tejas Networks proposes to utilize the net proceeds for funding the following:
a) Capital expenditure
b) Wages for research and development team
c) General corporate expenditure
For Red Herring Prospectus kindly visit here
About The Company:
Tejas Networks Limited is a hardware manufacturing company which provides equipment to telecom service providers and also to ISPs (internet service provider), defense companies, utility companies and governmental organizations to more than 60 countries around the world. The company designs and develops customised software and hardware as per demand. A big chunk of its profit comes from overseas customers. Though it falls in the telecom sector, the company being equipment manufacturer which provides equipment to service providers, it is not much affected by current telecom sector crisis.
The Tejas Network IPO review finds that Tejas Network Limited has made a steady progress in last five years as per consolidated financial report of last five years except 2013-2014 when company financials got hit due to 2G scam. Its unique business model helped in its growth. The company manufactures software defined programmable hardware architecture for its customers. The products can be remotely upgraded which suits their customers well as the more they grow the more more they pay for upgradation.
The company has good exposure to designing. They have already received many national and international awards for excellence in their field. Having filed more than 300 patent applications in India and abroad, 326 to be exact, the company has been granted 47 patents. More grants are awaited.
Tejas Networks Limited IPO review finds the company has good prospect in the long term because of its focus on R&D. For more information, visit official site here.
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Categories: IPO Review