Tejas Networks Makes Tepid Listing On Stock Markets, Jumps 5%

Shares of Tejas Networks Limited which got listed on stock exchanges today made a tepid debut. The shares of the company jumped as much as 5.44 per cent to hit intraday high of Rs 271 against its issue price of Rs 257. Tejas Networks IPO was oversubscribed 1.88 times, with qualified institutional buyers' (QIBs) portion getting oversubscribed 2.16 times, non-institutional investors 48 per cent and retail investors 3.10 times. Price b...