ITI Ltd FPO Message Board (Page 2)

LIC has to prepare itself for its mega-IPO, so Government is unable to force it to buy the remaining under-subscribed quantity of FPO.

I am not cancelling, but revising my bid from cutoff to Rs. 72. Hope that LIC bids for same price.

if subscription is less than one time then it will be allotted at 71 only. for retailers it is always better to subscribe at cut off if one wants to get shares allotted

I don't want to get the shares if it is allocated at 77. Tomorrow itself more likely it will come down to 77. You can buy easily from open market at 77 with such a bad response in FPO.

Bidding time extended for QIB & HNI till 5pm ....
Seems ITI desperately wants FPO to sail through ....

Dear members,
What will be the expected listing date for this?

90% subscription is required for FPO to sail through.
Even on the last extended day, subscription is at 59% only.
Situation will not change by extending the date of closure further, keeping the price band same.
Options are:
Lower the price band limits
Cancel the issue
Reduce the issue size to fit within 90% subscription

Those who are not able to cancel. Dont worry. This is going to get cancelled. I dont this will be extended any more.

They may decrease the issue size to rs1000 crore, so that it may sail through..

@amit k singh: I think it is not possible until QIB subscribe fully.

As overall Retail subscription decreased from 1.05x to 1.01x after issue got extended. Some have withdrawn their application including me.

If you applied online ASBA application and the IPO issue has not closed, you can click
on the transaction number under your "ORDER BOOK" , Click on it and you will see a "withdraw" button, click on it and your application will be withdrawn and Amount unblocked in 3-4 hours. This is for ICICIDIRECT. It may vary based on your broker, but ASBA application can be withdrawn till the issue is OPEN, once it is closed you can't withdraw and you have to followup with REGISTRAR like KARVY or LINKINTIME whoever is managing particular issue by sending mail and ask them not to consider your application for allotment.

Yes I have applied for 900 shares.

Now the most important question. How to cancel the application in ASBA

Subscription Data is very low. Unlikely to be fully subscribed tomorrow. They can either cancel the ipo or may further increase the closing date. If ipo is cancelled, ABSA amount will be unblocked

Will dividend income from shares be taxable as per tax slabs or 10% of dividend?

Also, is there any exemption like below 1 lac dividend, no need to pay tax etc?

@echaos and others..
In a statement, CBDT said queries have been raised if mutual fund would be required to deduct TDS also on the capital gains arising on redemption of units.

"It is hereby clarified that under the proposed section, a mutual fund shall be required to deduct TDS at 10 per cent only on dividend payment and no tax shall be required to be deducted by the mutual fund on income which is in the nature of capital gains," it said.
I think it will settle down this issue

10%TDS only on Dividend amounting to more than 5000.00 paid by Mutual Fund. No TDS on dividend from equity/share. No TDS on Capital gain from Mutual Fund/shares.

It is hereby clarified that under the proposed section, a mutual fund shall be required to deduct TDS at 10 per cent only on dividend payment and no tax shall be required to be deducted by the mutual fund on income which is in the nature of capital gains," it said

I dont see a strong reason not to apply in this offer, after fine print analysis of the budget I think I got enough courage to apply .

Please advice folks if I am missing something very important point, which will/might make this stock go haywire.

Seems like ITI is expecting good Budget and so they have extended the timeline.

Company is having very good orders worth approx Rs.11k Cr and order worth RS. 4500 Cr of ASCON (Defence Project) is being released very soon. Budget allocation worth RS.6000 Cr for Bharatnet which is only 10% of total plan of GOI, will also be in the bag of ITI. So share of ITI is promising and every one should go for it. People are biased being a Govt organisation. Days are gone when ITI had met loss, now scenario has been changed, Company has also diversified in IT field and other products salable in open market.

Budget doesn't suits to ITI IPO.

Is there any discount for retail investors? This share is down more than 2 rs. Today despite market up 800 points. Rii might have applied at cut off price if no retail discount

My IOB was once awarded for best customer service , now it is most unhelpful and never picksup the phone.
Therefore, pls. Advise in detail,any other method for Cancellation of ASBA backed application.

Announcement of 6000cr BHARATNET to connecting 1 lk
Gram panchayats ,PHCs, schools,CSCs and SDCs will be much beneficial for ITI (IMO)

Nothing against specific to ITI issue. But my campaign is against the PSUs. As we know the PSU shares are trading their all time low barring railways related ones. Every day they are touching new low. So PSUs needs to do self retrospection when they are inviting public for investment.

ASCON project will be given to ITI in upcoming days. As you know ITI is working on the Bharat Net Project in different locations in the state of Gujrat , Maharashtra.

Simply Avoid Avoid Avoid!

Your comment got 16 dislikes, you can understand well.

@Rakesh Sir
Please don't take it personally. It's just my view and you may differ. Likes or dislikes do not change my view. By the way, the share price is around 80 Rs in open market and the price is decreasing gradually since the issue has been announced. Please take your investment decision independently without my influence.

Somebody please advise detailed process to cancel an ASBA backed application ( without approaching my bank,as they are not helping).

Given current subscription level, chances of issue being cancelled are high

Try to cancel application through netbanking .Call bank Customer care to cancel your application if this option is not available to you.
@Prasad, ITI will keep extending the issue close date untill issue is fully subscribed.

ITI is already doing Bharatnet projects in Gujarat, Rajasthan and Maharashtra and more to come and also doing Third party audit of other players in Bharatnet.

Govt will only give ITI do some pilot projects here and there. Real projects will be done by bigger players like Jio, Bharti...

Mr. amit k Singh, projects More than 5000Cr. is not Pilot Projects. ????????????????????????

I have invested in it because of it's projects.i studied and found this company is working in fiber network and defense. Next generation technology is totally depends upon data for that media(Fiber) is mandatory for handling data flow and security point of view central government will trust on government organization. It is also working on communication devices for ISRO. I think It will not a bad deal for me.