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
The President of India, acting through the Department of Telecommunications, Ministry of Communications, Government of India is the promoter of the company.
| Particulars | For the year/period ended (₹ 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 - Feb 5, 2020 |
| Issue Type | Book Built Issue FPO |
| Issue Size | 181,800,000 Eq Shares of ₹10 (aggregating up to ₹1,399.86 Cr) |
| Fresh Issue | 180,000,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
| Face Value | ₹10 Per Equity Share |
| IPO Price | ₹71 to ₹77 Per Equity Share |
| Market Lot | 150 Shares |
| Min Order Quantity | 150 Shares |
| Listing At | BSE, NSE |
| Market Cap (₹ Cr.) | 8307 |
| Bid/Offer Opens On | Jan 24, 2020 |
| Bid/Offer Closes On | Feb 5, 2020 |
| Finalisation of Basis of Allotment | Jan 31, 2020 |
| Initiation of Refunds | Feb 3, 2020 |
| Credit of Shares to Demat Acct | Feb 4, 2020 |
| IPO Shares Listing Date | Feb 5, 2020 |
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 150 | ₹11,550 |
| Maximum | 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.
No. of Times Issue Subscribed (BSE + NSE) | |||||
|---|---|---|---|---|---|
As on Date & Time | QIB | NII | RII | Employee | Total |
Shares Offered | 135,000,000 | 27,000,000 | 18,000,000 | 1,800,000 | 181,800,000 |
Feb 5, 2020 17:00 | 0.63x | 0.23x | 1.06x | 0.98x | 0.62x |
ITI Ltd
ITI Bhavan,
Doorvaninagar,
Bengaluru 560 016,
Phone: +91 80 2561 7486
Email: cosecy_crp@itiltd.co.in
Website: http://www.itiltd.in/
Karvy Computershare Private Limited
Karvy Registry House, 8-2-596, St. No. 1,
Banjara Hills, Hyderabad - 500 034
Andhra Pradesh, India
Phone: +91-40-23312454
Email: itiltd.fpo@karvy.com
Website: https://karisma.karvy.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 price of the FPO is ₹71 to ₹77 Per Equity Share. The minimum order quantity is 150 Shares per application and the offer type is Book Built Issue.
The FPO opens on Jan 24, 2020 and closes on Feb 5, 2020.
Karvy Computershare Private 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 application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.
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.
ITI FPO lot size is 150 Shares and the minimum order quantity is 150 Shares.
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