The funds were raised at price of Rs 105.25 per share to existing shareholders like Burman family & Ares SSG Capital and selected new marquee investors.
Private sector Axis Bank today said it has alloted 58.37 lakh shares on preferential basis to promoters raising Rs 811.4 crore.
In an interview with CNBC-TV18, C Shiva Kumar Reddy, MD, Kavveri Telecom Products spoke on the preferential allotment and the company's business plans going forward.