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ITI Ltd FPO (ITI FPO) Detail

January 24, 2020 - February 5, 2020

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.

ITI FPO Details

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 Size181,800,000 shares
(aggregating up to ₹1,399.86 Cr)
Fresh Issue180,000,000 shares
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue FPO
Listing At BSE, NSE

ITI FPO Reservation

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 OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered135,000,000 (74.26%)NA
NII (HNI) Shares Offered27,000,000 (14.85%)
Retail Shares Offered18,000,000 (9.90%)120,000
Employee Shares Offered1,800,000 (0.99%)NA
Total Shares Offered181,800,000 (100%)

ITI FPO Timeline (Tentative Schedule)

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

ITI FPO Lot Size

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

ITI FPO Promoter Holding

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%

About ITI Ltd

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

Company Financials

Summary of financial Information (Restated)
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)

Objects of the Issue (ITI FPO Objectives)

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

ITI FPO Review (May apply)

[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...


ITI FPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
QIB0.63
NII0.23
Retail1.06
Employee0.98
Total0.62

IPO Notices

External Link

ITI FPO withdrawn

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 FPO Prospectus

ITI FPO Rating

968
3.7
Rating:Rated 3.7 stars
Vote Here ...

ITI Ltd Contact Details

ITI Ltd
ITI Bhavan,
Doorvaninagar,
Bengaluru 560 016,
Phone: +91 80 2561 7486
Email: cosecy_crp@itiltd.co.in
Website: http://www.itiltd.in/

ITI FPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: itiltd.fpo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/

ITI FPO FAQs

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.

The ITI FPO listing date is not yet announced. The tentative date of ITI FPO listing is Wednesday, February 5, 2020.
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ITI FPO Message Board

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369 Comments

174. nagabhyrava prathap choudary |   Link |  Bookmark |March 12, 2020 12:38:13 PM
ss
173. bangadgopallal |   Link |  Bookmark |March 11, 2020 4:46:17 PM
110 sbi card Gmp in in which city. Please let me know.
172. amit K singh |   Link |  Bookmark |March 8, 2020 6:12:51 PM
IPO Guru IPO Guru (1000+ Posts, 1600+ Likes)
Thank God it's canceled, it's available in 68.
171. NILESH DOSHI |   Link |  Bookmark |February 26, 2020 12:42:57 PM
MY SBI BANK NOT RELEASE HOLD AMOUT PLS LET ME KNOW WHAT IS THE PROCEDURE FOR REMOVING HOLD AMOUNT I VISIT IN BANK MANY TIME NO ONE HAVE ANY ANSWER PLS HELP
170. KMB |   Link |  Bookmark |February 16, 2020 7:21:34 PM
I apply through net banking, how will home branch will resolve my problem, it should be to registrar of issue that is Karvey
169. KMB |   Link |  Bookmark |February 15, 2020 8:36:30 PM
My AS BAD APPLICATION FROM BANK OF BARODA STILL NOT REMOVE HOLD, PL GUIDE WHERE TO LODGE COMPLAINT
169.1. Paymzia |   Link |  Bookmark |February 16, 2020 8:39:20 AM
IPO Guru IPO Guru (2400+ Posts, 4500+ Likes)
Ask your bank home brach where your bank account there
168. KMB |   Link |  Bookmark |February 15, 2020 8:36:03 PM
My AS BAD APPLICATION FROM BANK OF BARODA STILL NOT REMOVE HOLD, PL GUIDE WHERE TO LODGE COMPLAINT
167. DHAMU |   Link |  Bookmark |February 10, 2020 2:55:05 PM
ITI fpo when money will be refunded? my money is still blocked now it`s been 15 days.please tell me anybody know about this.
166. Dr. Jan Itor |   Link |  Bookmark |February 6, 2020 12:41:08 AM
Congratulations to small retail investors. Let this be a lesson to govt. Leave something on the table for RIIs.
166.5. ganesh jaiswal |   Link |  Bookmark |February 6, 2020 10:28:21 AM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Money still blocked in ASBA, not yet released by bank
166.6. tnk |   Link |  Bookmark |February 8, 2020 11:17:27 AM
@Oldfox,
In Ìrctc, unknowingly the whole table itself was given away, instead of leaving something on the table... now issuer will be double cautious in pricing future offerings.
165. Rkg |   Link |  Bookmark |February 6, 2020 2:11:26 PM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
Money unlocked.
But still the question remains....
How to withdraw an ASBA backed application, without referring to the bank?
165.1. Dr. Jan Itor |   Link |  Bookmark |February 7, 2020 3:10:06 PM
In net banking there is an option to cancel or edit your bid till some time limit. This is there in netbanking sites/apps of most banks.

For UPI you can approach the broker if there is no option on his online platform. When he modifies/cancels you will get a modify/revoke mandate on your UPI app that you need to approve.
165.2. Rkg |   Link |  Bookmark |February 7, 2020 3:43:25 PM
Top Contributor Top Contributor (500+ Posts, 200+ Likes)
Thanks Dr Itor. In IOB Internet banking for ASBA ,there is no provision for modification etc. If anybody is having relevant information please share.
Pls. let me know , complete process for modification/withdrawal of ASBA backed appln. through registrar/ lead manager etc.
164. C L Prajapati |   Link |  Bookmark |February 7, 2020 11:01:32 AM
By when amount blocked on ABSA will be credited back to my account as it is 7th /feb today as IPO withdrawn.
163. Bullbear |   Link |  Bookmark |February 7, 2020 9:11:26 AM
All promoters fpo or ofs try to rob public with high premium. How the target of rs. 2 lac cror disinvestment will be met this way?
162. Siva mallam |   Link |  Bookmark |February 6, 2020 12:39:50 PM
What a waste of time and energy on this issue , Entire January gone with no IPO I cant see any IPO in February as well .
Just playing with IRCTC everyday.
161. prasadsehi |   Link |  Bookmark |February 6, 2020 9:26:55 AM
when it will be refund
160. harit |   Link |  Bookmark |February 6, 2020 8:07:23 AM
@admin
Please remove this page as no relevance now to discussing
159. small.investor |   Link |  Bookmark |February 5, 2020 9:34:03 PM
The height is even employee quota was not fully subscribed.
158. MITTAL |   Link |  Bookmark |February 5, 2020 6:20:10 PM
IPO Mentor IPO Mentor (700+ Posts, 1200+ Likes)
सरकार के लिए शर्मनाक बात है। सभी को बधाई।
157. MUKESH K |   Link |  Bookmark |February 5, 2020 4:57:41 PM
When money will be unblocked.
156. hchc |   Link |  Bookmark |February 5, 2020 3:48:15 PM
Top Contributor Top Contributor (300+ Posts, 900+ Likes)
ITI FPO WITHDRAWN
156.1. amit K singh |   Link |  Bookmark |February 5, 2020 4:30:52 PM
IPO Guru IPO Guru (1000+ Posts, 1600+ Likes)
Grt.. Investors money is saved...
155. Carn Mohan |   Link |  Bookmark |February 5, 2020 4:13:23 PM
IPO Mentor IPO Mentor (1100+ Posts, 400+ Likes)
Fail ho gaya ha ha ha
Rs 25 ka Rs 72 pay sell karrahatha.