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Incorporated in 1950, Indian Telephone Industries Limited (ITI) is a Bengaluru based public sector company operating under the department of telecommunications. It has customers from diverse industries including defence, banks, telecommunications, financial institutions, information technology, and solar energy. The company has a wide product range; some of them are manufactured by in-house manufacturing units and some with other technology partners.
The product portfolio of the company includes optical and data network products, defence security encryption products, passive infrastructure products, multi-capacity encryption units, set-top boxes, smart energy meters, smart cards, and mini personal computers. Apart from this, the company also provides operation and maintenance of base transceiver stations (BTS), Aadhaar authentication services, National Population Register (NPR), annual maintenance contracts (AMC), and data centre hosting solutions.
Some of the famous Public Sector Units (PSUs) such as Bharat Broadband Network Limited (BBNL), Energy Efficiency Services Limited (EESL), Ministry of Rural Development (MORD), and Bharat Sanchar Nigam Limited (BSNL) are the customers of ITI Ltd. The company is also engaged in some government projects such as ASCON, BharatNet, Smart Energy Meters, and E-Governance Projects.
ITI Ltd has 5 manufacturing units located at Mankapur, Bengaluru, Palakkad, Naini and Raebareli. It also has an R&D center in Bengaluru. As on August 31, 2018, it had 3,427 employees.
Competitive Strengths
1. Diverse product and services range
2. Projects with major clients
3. Modernised technology, equipment and infrastructure
| Particulars | For the year/period ended (Rs in Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||
| Total Assets | 47,057.38 | 32,048.94 | 35,230.86 | 30,248.47 | |
| Total Revenue | 18,116.17 | 20,887.16 | 17,903.11 | 6,640.29 | |
| Profit After Tax | 2,305.64 | 2,663.91 | 2,372.18 | (2,979.95) | |
The company proposes to utilise the net proceeds towards the following objects:
A. Funding working capital requirements of the Company;
B. Repayment of loans availed by the Company; and
C. General corporate purposes
| IPO Date | Jan 24, 2020 to Feb 5, 2020 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹71 to ₹77 per share |
| Lot Size | 150 Shares |
| Issue Size | 181,800,000 shares of ₹10 (aggregating up to ₹1,399.86 Cr) |
| Fresh Issue | 180,000,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue FPO |
| Listing At | BSE, NSE |
| Market Cap (₹ Cr.) | 8307 |
| Company Promoters | The President of India, acting through the Department of Telecommunications, Ministry of Communications, Government of India is the promoter of the company. |
ITI FPO opens on Jan 24, 2020, and closes on Feb 5, 2020. The ITI FPO bid date is from Jan 24, 2020 10.00 A.M. to Feb 5, 2020 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Jan 24, 2020 |
| Closing Date | Feb 5, 2020 |
| Basis of Allotment | Jan 31, 2020 |
| Initiation of Refunds | Feb 3, 2020 |
| Credit of Shares to Demat | Feb 4, 2020 |
| Listing Date | Feb 5, 2020 |
The ITI FPO lot size is 150 shares. A retail-individual investor can apply for up to 17 lots (2550 shares or ₹196,350).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹11,550 |
| Retail (Max) | 17 | 2550 | ₹196,350 |
| Pre Issue Share Holding | 89.97% |
| Post Issue Share Holding | 74.83% |
The Company in consultation with the Book Running Lead Managers to the Issue, has decided to withdraw the Issue, due to the prevailing market conditions.
ITI Ltd. erstwhile known as Indian Telephone Industries Ltd.) has diversified on many fronts. With its new plans, it can be termed as Indian Technology Innovations Ltd. in true sense. It has a healthy order book indicating sufficient workload for the next 4 - 5 years. ITI is gearing to play an important role in "Digital India" plan. Despite the last traded price of Rs. 100 on the exchanges as on 22.01.20 close, it has fixed a price band of Rs. 71-77 and has thus opted for the investor-friendly gesture. Investment may be considered for long term rewards. Read detail review...
The ITI FPO is subscribed 0.62 times on Feb 5, 2020 5:00:00 PM. The public issue subscribed 1.06 times in the retail category, 0.63 times in the QIB category, and 0.23 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 0.63 |
| NII | 0.23 |
| Retail | 1.06 |
| Employee | 0.98 |
| Total | 0.62 |
ITI Ltd
ITI Bhavan,
Doorvaninagar,
Bengaluru 560 016,
Phone: +91 80 2561 7486
Email: cosecy_crp@itiltd.co.in
Website: http://www.itiltd.in/
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: itiltd.fpo@karvy.com
Website: https://karisma.kfintech.com/
ITI FPO is a main-board FPO of 181,800,000 equity shares of the face value of ₹10 aggregating up to ₹1,399.86 Crores. The issue is priced at ₹71 to ₹77 per share. The minimum order quantity is 150 Shares.
The FPO opens on Jan 24, 2020, and closes on Feb 5, 2020.
KFin Technologies Limited is the registrar for the FPO. The shares are proposed to be listed on BSE, NSE.
The ITI FPO opens on Jan 24, 2020 and closes on Feb 5, 2020.
ITI FPO lot size is 150 Shares and the minimum order quantity is .
You can apply in ITI FPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for ITI FPO will be done on Jan 31, 2020, and the allotted shares will be credited to your demat account by Feb 4, 2020. Check the ITI FPO allotment status.
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