ITI Limited FPO

ITI Limited – FPO

Company Profile

ITI Limited is incorporated on Jan 25, 1950 at Bengaluru, Karnataka. ITI is a public sector company which comes under Department of Telecommunications (DoT) having experience in telecommunications technology with customer base like Telecomm, Defense, IT, Banks and solar energy.  

Their Customers include BSNL, MTNL, EESL and the Ministry of Defence, the Ministry of Rural Development (“MORD”), the Registrar General of India and certain other Government agencies. They are involved in various government aspiring projects, some of which are: ASCON, BharatNet, Network of Spectrum, Smart Energy meters, Space Programs, E-Governance Projects.

They have manufacturing facilities in Bengaluru, Mankapur, Naini, Palakkad and Raebareli and a research and development (“R&D”) center in Bengaluru.

They have technology transfer agreements (under which they pay a royalty and other fees) with various technology and telecommunications companies for certain technology and products including MLLN and optical transport network (“OTN”) equipment, telecommunication.

Upcoming Projects: They have bid for coming ASCON IV project of ministry of Defence that entails the establishment of an optical fiber network for the Indian army and also Gujrat Net Project.

Strengths

  • Diverse Products and Services
  • Handy Relationship with PSUs, Ministry of defence and Govt Agencies.
  • Modernised Equipments

Promoters

President of India, acting through the Department of Telecommunications, Ministry of Communications, GOI.

Financials of Company

Fig in Cr.
31.03.2018 31.03.2017 31.03.2016
Revenue       1,811.6       2,088.7       1,790.3
Expenses       1,581.1       1,822.3       1,553.0
PAT         230.6         266.4         237.2

Objects of Issue

  • For Working Capital Requirements
  • Repayment of Loans
  • General Corporate Purposes

FPO DETAIL 

Offer Period Jan 24, 2020 – Feb 5, 2020
Issue Type Book Built Issue IPO
Issue Size Rs. 1400 Cr. (Approx.)
Face value Rs. 10 Per Equity Share
Issue Price Rs. 71 – 77 Per Share
Market Lot  150 Shares
Listing at NSE, BSE
Minimum Investment (Retail) Rs. 11,550/- Per lot at Cut off Price

QIB: 75% of the Net Issue; NII: 15% of the Net Issue; RII: 10% of the Net Issue

ITI FPO Schedule

Offer Open Jan 24,2020
Offer Close Jan 31,2020
Finalisation of Basis of allotment
Refund Initiation
Credit Demat Account
Listing Date
FPO Registrar FPO Lead Managers
Karvy Computershare Private Limited

Karvy Registry House, 8-2-596, St. No. 1, Banjara Hills, Hyderabad – 500 034 – Andhra Pradesh, India Phone:040-23312454; Email-ID:itiltd.FPO@karvy.com; Website:https://karisma.karvy.com/

1. BOB Capital Markets Limited

2. Karvy Investor Services Limited

3. PNB Investment Services Limited

ITI FPO Subscription status

ITI FPO GMP (Grey Market Premium)

ITI FPO Latest GMP

Review and Recommendations

ITI Limited is one of the oldest PSU Company in India with his tremendous contribution in technology sector in India with Government of India’s holding of 89.97%; The company is having a order book of approx. 20K Cr. and expected to receive ASCON IV order from Ministry of Defence. The Stock is trading at around Rs. 100/- per share on bourses, so with Price band of Rs. 71-77 per share is a healthy FPO price set for the issue.

So, our Recommendation is definitely a “YES” to subscribe for long term perspective but looking at poor subscription figures and reducing price of share in market it seems difficult to have any listing gain. So, keep away if you are investing for only short term listing gain.

0 0 vote
Article Rating
Share with Friends
Subscribe
Notify of
guest
4 Comments
Most Voted
Newest Oldest
Inline Feedbacks
View all comments
ABCD
ABCD
January 25, 2020 12:42 pm

ITI Limited is now trading around Rs. 91.
On 28 it might go below the issue price. So, Please wait and watch and then dicide whether to apply or not.

Raj
Raj
January 25, 2020 12:37 pm

Good price band and ITI order book is strong it may cross 100+ within few month
go ahead and apply more

Koushal Sinha
Koushal Sinha
January 25, 2020 12:34 pm

can anyone tell me the procedure to apply for an fpo i want to apply for ITI fpo, please share the process.

4
0
Would love your thoughts, please comment.x
()
x