Tejas Networks

News Summary:

On June 29, 2026, Tejas Networks Limited announced the approval of Srikumar Vijayasekharan's appointment as a director and an Independent Director during its Annual General Meeting (AGM), which convened on June 26, 2026. On the same day, the company delivered a high-capacity multi-country optical backbone for a major international sporting event in Europe. A global communications service provider leveraged Tejas's TJ1600 platform to establish this resilient multi-terabit network, enabling seamless real-time data exchange for large-scale broadcast operations. Previously, on June 22, Tejas Networks successfully raised ₹7766.88 crore through a 100% book-built offer. This offer consisted of a fresh issue of 17,509,727 equity shares, aggregating ₹4500 million, and an offer for sale of 12,711,605 equity shares by selling shareholders. The offer, priced at ₹257 per equity share, was subscribed 1.32 times, with qualified institutional buyers subscribing 1.35 times and non-institutional investors 1.23 times, and the company plans to use the net proceeds for business expansion, including research and development investments and debt repayment. Earlier, on June 11, the company closed its trading window from June 16, 2026, until 48 hours after the release of its unaudited financial results for the quarter ending June 30, 2026, in compliance with SEBI regulations. This followed the initial scheduling of its 26th Annual General Meeting for June 26, 2026, and the dispatch of the Annual Report 2025-26 to shareholders on June 3.