Tejas Networks, maker of optical networking products, has filed draft papers with capital markets regulator Sebi to raise fund through an initial public offering. The IPO comprises fresh issue of shares worth Rs 450 crore and an offer for sale of 1.27 crore scrips by shareholders, according to draft red herring prospectus. Shareholders who would sell stake in the initial public offer (IPO) include Cascade Capital Management Mauritius, Intel Capital (Cayman) Corporation, India Industrial Growth…