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ITI FPO is a book built issue of Rs 1,399.86 crores. The issue is entirely a fresh issue of 18 crore shares.
ITI FPO bidding started from January 24, 2020 and ended on February 5, 2020. The allotment for ITI FPO was finalized on Friday, January 31, 2020. ITI FPO will list on BSE, NSE with tentative listing date fixed as Wednesday, February 5, 2020.
ITI FPO price band is set at ₹71 to ₹77 per share. The minimum lot size for an application is 150 Shares. The minimum amount of investment required by retail investors is ₹11,550.
Bob Capital Markets Limited, Karvy Investor Services Limited and Pnb Investment Services Ltd are the book running lead managers of the ITI FPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to ITI FPO RHP for detailed information.
| IPO Date | January 24, 2020 to February 5, 2020 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹71 to ₹77 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 181,800,000 shares (aggregating up to ₹1,399.86 Cr) |
| Fresh Issue | 180,000,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue FPO |
| Listing At | BSE, NSE |
ITI FPO offers 181,800,000 shares. 135,000,000 (74.26%) to QIB, 27,000,000 (14.85%) to NII, 18,000,000 (9.90%) to RII, 1,800,000 (0.99%) to employees. 120,000 RIIs will receive minimum 150 shares and (sNII) and (bNII) will receive minimum 2,700 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 135,000,000 (74.26%) | NA |
| NII (HNI) Shares Offered | 27,000,000 (14.85%) | |
| Retail Shares Offered | 18,000,000 (9.90%) | 120,000 |
| Employee Shares Offered | 1,800,000 (0.99%) | NA |
| Total Shares Offered | 181,800,000 (100%) |
ITI FPO opens on January 24, 2020, and closes on February 5, 2020.
| IPO Open Date | Friday, January 24, 2020 |
| IPO Close Date | Wednesday, February 5, 2020 |
| Basis of Allotment | Friday, January 31, 2020 |
| Initiation of Refunds | Monday, February 3, 2020 |
| Credit of Shares to Demat | Tuesday, February 4, 2020 |
| Listing Date | Wednesday, February 5, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 5, 2020 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹11,550 |
| Retail (Max) | 17 | 2550 | ₹196,350 |
| Lot Size Calculator | |||
The President of India, acting through the Department of Telecommunications, Ministry of Communications, Government of India is the promoter of the company.
| Share Holding Pre Issue | 89.97% |
| Share Holding Post Issue | 74.83% |
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
[Dilip Davda] 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 February 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 |
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
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://kosmic.kfintech.com/ipostatus/
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 January 24, 2020, and closes on February 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 January 24, 2020 and closes on February 5, 2020.
ITI FPO lot size is 150 Shares, and the minimum amount required is ₹11,550.
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 Friday, January 31, 2020, and the allotted shares will be credited to your demat account by Tuesday, February 4, 2020. Check the ITI FPO allotment status.
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