ITI FPO Review

IPO Status: Withdrawn [24th Jan 2020 to 5th Feb 2020]

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Incorporated Year: 1950
Sector: Telecommunication
Website: www.itiltd.in

Indian Telephone Industries Ltd IPO

ITI LTD FPO opens on 24th Jan 2020 and closes on 05th Feb, 2020. Price band for IPO is ₹71 ₹77 per share and lot size 150. Due to low subscription, issue closing date further extended from 31st Jan 2020 to 5th Feb 2020. IPO withdrawn as its under subscribed after extension also.

About ITI LTD

Headquartered in Bangalore, India. Indian Telephone Industries (ITI) Limited is a central-government owned telecom equipment manufacturer and supplier. ITI offers a complete range of telecom products & solutions including switching, transmission, access and subscriber premises equipment.

Initially, the company started their operations with manufacturing of mobile infrastructure equipment based on code division multiple access (CDMA) and global system for mobile (GSM) technology. But over the period, ITI Ltd has substantially expanded their product and service portfolio.

In 2003-04, ITI added new products i.e. BSNL Network, Managed Leased Line Network, CDMA based fixed wireless terminal and mobile terminal, Digital Loop Carrier SDH. Further, it entered into IT segment by introducing products such as Smart Card based Pay Phones, Info Kiosk, Narrow Brand Remote Access Servers, Info Kiosk, MPLS Routers. Later, in 2004-05, it started manufacturing of GSM-BTS, CDMA based IFWT and SIM Cards. In 2005-06, it added Edge TRU, DLC Broadband, SSTP, Conversion Kits, New Generation STM-DTH, ADSL-DSKAM. They further inducted Power Distribution Automation Projects and Energy Saving Devices. Thereafter, added many new products such as GSM, IFWT, SDH, NGN, ADSL, G-PON.

Company serves telecom equipment and services to government agencies, defence and telecom service providers. The company has six manufacturing facilities situated in Naini, Bengaluru, Mankapur, Pakkad, Rae Bareli and Srinagar. It also has 1 R&D centre in Bengaluru and 25 Marketing, Services & Projects (MSP) centers in India.

ITI has tie-ups with France, Alcatel, and NKT, Denmark for undertaking manufacturing of switching equipment and technical equipment whereas it had tie-up with NEC, Japan to manufacture digital microwave equipment. Further, it has joint venture agreements with ISL and Valvas, namely IT Communications Pte Ltd, Singapore and has collaboration agreement with Gieseck Devrient, Tejas Network and Tekelec. It also has strategic alliances with Mahindra British Telecom, MTNL, Red Point Telecom, M/s Alcatel-Lucent, and M/s Huawei.

ITI Ltd IPO Objective

  • To meet the working capital requirement of the company.
  • To repay outstanding loans taken by the company.
  • To meet general corporate purposes.

ITI IPO Updates

  • IPO Issue open on 24th Jan 2020 and close on 5th Feb 2020.
  • The Anchor Investors bidding start one day in advance - 22nd Jan, 2020.
  • Investors Portion: QIB:75%, HNI:15%, Retail:10%.
  • Price Band: ₹71 ₹77 per share, Lot Size: 150 Shares.

ITI Ltd IPO Subscription Details

Latest update on ITI Ltd IPO Subscription.

    ITI Ltd IPO Subscription
    Details Qualified Institutional Buyers (QIB) Non Institutinol Investors (NII) Retail Individual Investors (RII) Employees Total
    Shares Available 13,50,00,000 2,70,00,000 1,80,00,000 18,00,000 18,18,00,000
    Day 1 - Jan 24, 2020 17:01 0.05x 0.00x 0.18x 0.03x 0.06x
    Day 2 - Jan 27th, 2020 17:01 0.05x 0.01x 0.50x 0.18x 0.09x
    Day 3 - Jan 28th, 2020 17:01 0.49x 0.16x 0.92x 0.65x 0.49x
    Day 4 - Jan 29th, 2020 17:01 0.49x 0.16x 0.94x 0.70x 0.49x
    Day 5 - Jan 30th, 2020 17:01 0.49x 0.16x 0.98x 0.79x 0.49x
    Day 6 - Jan 31st, 2020 17:01 0.59x 0.17x 1.05x 0.87x 0.58x
    Day 7 - Feb 3rd, 2020 17:01 0.59x 0.17x 1.02x 0.89x 0.57x
    Day 8 - Feb 4th, 2020 17:01 0.59x 0.17x 1.01x 0.92x 0.57x
    Day 9 - Feb 5th, 2020 15:01 0.63 0.20x 1.05x 0.97x 0.61x

ITI Ltd IPO Details

ITI Ltd IPO details includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.

ITI Ltd IPO Details
ITI Ltd Issue Details Values
IPO Category Mainline
IPO Issue Type Book Built Issue FPO
IPO Issue Size ₹1,308.96 Cr. - 1,399.86 Cr.
Fresh Issue 180,000,000 Eq Shares
Face Value ₹10 Per Equity Share
IPO Issue Price ₹71 to 77
IPO Discount NIL
Market Lot 150 Shares
Min Retail Qty 150 Shares
Max Retail Qty 2550 Shares - 17 Lot
Promoter Holding Pre IPO 89.97%
Promoter Holding Post IPO 74.83%
IPO Listing At BSE, NSE
BSE Code 523610
NSE Code ITI

ITI Ltd IPO Live Subscription (NSE + BSE)

The table below is live update of IPO bidding details from NSE and BSE.

  • Qualified Institutional Buyers: 135,000,000
  • Non-Institutional Investors: 27,000,000
  • Retail Individual Investor: 18,000,000
  • Employees Quota: 1,800,000
IPO Bidding Live Updates from BSE + NSE
DayDateQIBNIIRIIEMPTotal
  135,000,00027,000,00018,000,0001,800,000181,800,000
124th Jan 2020 17:020.05x0.00x0.18x0.03x0.06x
227th Jan 2020 17:020.05x0.01x0.50x0.18x0.09x
328th Jan 2020 17:020.49x0.16x0.92x0.65x0.49x
429th Jan 2020 17:020.49x0.16x0.94x0.70x0.49x
530th Jan 2020 18:020.49x0.16x0.98x0.79x0.49x
631st Jan 2020 17:020.59x0.17x1.05x0.87x0.58x
73rd Feb 2020 17:020.59x0.17x1.02x0.89x0.57x
84th Feb 2020 17:020.59x0.17x1.01x0.92x0.57x
95th Feb 2020 17:020.63x0.23x1.06x0.98x0.62x

ITI Ltd Financials for past 3 Years

Past performance and financial results of ITI Ltd.

ITI Ltd financial
ITI IPO Financials 31-Mar-2018 31-Mar-2017 31-Mar-2016
Total Assets ₹4705.74 Cr ₹3204.89 Cr ₹3523.09 Cr
Total Income ₹1811.62 Cr ₹2088.72 Cr ₹1790.31Cr
Total Expense ₹1581.05 Cr ₹1822.32 Cr ₹1553.09 Cr
Net Profit/Loss ₹230.56 Cr ₹266.39 Cr ₹237.22 Cr

ITI Ltd IPO Strengths

  • Diversified range of product & service offerings.
  • Long-term operational track record.
  • Experienced managerial team.
  • Modernized infrastructure, technology and telecom equipment.
  • Robust financial performance.
  • Sound relationship with PSUs, Defence ministry and GOI agencies.

ITI Ltd IPO Threats/Weaknesses

  • High revenue dependency over limited number of PSUs such as BSNL, MTNL and EESL.
  • Outstanding litigation proceeding.

ITI Ltd IPO Important Dates

In this section we have covered all important dates related to ITI Ltd IPO. Dates are updated as they are announced. The most noted dates are IPO start date and IPO end date, which one should use to participate in IPO.

ITI Ltd IPO important dates
IPO Activity Date
IPO Issue Open Date 24th Jan 2020
IPO Issue Close Date 5th Feb 2020
Basis of Allotment Finalisation Date* 10th Feb 2020
Refunds Initiation* 10th Feb 2020
Credit of Shares to Demat Account* 13th Feb 2020
IPO Listing Date* 14th Feb 2020

* - Tentative Dates

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@
  NRI Form ⇒

ITI Ltd IPO Draft Prospectus >>Document

ITI Ltd IPO Red Herring Prospectus >>Document

ITI Ltd IPO Allotment Status >>ITI Ltd IPO Allotment is not declared yet, we will provide the link for status once allotment is out.

Company Address

ITI Limited
ITI Bhavan
Doorvaninagar,
Bengaluru-560016,
Karnataka, India
Website: www.itiltd-india.com
Email: [email protected]
Phone: +91 80 2561 7486

Registrar

Karvy Computershare Private Limited
Karvy Registry House, 8-2-596, St. No. 1,
Banjara Hills, Hyderabad - 500034
Andhra Pradesh, India
Phone: +91-40-23312454
Email: [email protected]
Website: https://karisma.karvy.com/

Lead Manager

  • BOB Capital Markets Limited
  • Karvy Investor Services Limited
  • PNB Investment Services Limited
ITI Ltd IPO Important dates - Issue Open Date, close Date, IPO Listing Date. IPO Details - Offer Size, Issue Size, Type of IPO, Issue Price, Market Lot, BSE Cd, NSE Cd, IPO Listing date. What is the issue open date and close date for ITI Ltd? Should I apply in ITI Ltd IPO?

Last Updated on 2020-02-19T22:47:13+00:00

ITI Ltd IPO FAQs

  1. 1. How to subscribe ITI Ltd IPO in Zerodha?

    Now you can apply in online IPO application via Zerodha back office software "console". You can subscribe ITI Ltd IPO with Zerodha. You need to apply application online using UPI payment mode. To purchase ITI Ltd IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detail article Step by Step Guide to apply ITI Ltd IPO with Zerodha.

    Alternate approch to apply in ITI Ltd IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.

    ITI Ltd IPO Review and Important Updates

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  2. 2. How to apply in ITI Ltd IPO online?

    Apply in ITI Ltd IPO online

    To subscribe or apply in ITI Ltd IPO, you can use the following methods:

    ITI Ltd IPO Applying ModeMethodDetails
    Online Application3-in-1 Trading Account

    If your broker is 3-in-1 service provider, you can apply in ITI Ltd IPO directly with your brokers website. Example HDFC Security, ICICI Direct, AxisDirect and so on are 3-in-1 brokers provide you direct IPO investment.

    Online Application2-in-1 Trading Account

    Brokers like Zerodha, TradeSmart Online are providing you access to applying in ITI Ltd IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online.

    Online ApplicationASBA

    This is one of the most popular mode of applying in ITI Ltd IPO. Max syndicate bank provide you access to apply in ITI Ltd IPO via ASBA process. You must have your net banking access, DP ID information to apply in ITI Ltd IPO via ASBA. Bank like Axis, SBI allows you to apply max 5 application from one bank account. Where ICICI, HDFC bank have limit of one IPO ASBA application per account.

    Offline ApplicationPhysical Form

    You can apply in ITI Ltd IPO via physical application, but you can’t apply physical application via ASBA. You need to apply physical application via UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app.

    ITI Ltd IPO Review and Important Updates

    Other revelevent question on same topics are:

    Where to subscribe ITI Ltd IPO? Where to apply for ITI Ltd IPO? How to subscribe ITI Ltd IPO online? ITI Ltd IPO where to apply? Where to buy ITI Ltd IPO online? How to buy ITI Ltd IPO online? How to purchase ITI Ltd IPO? How to get ITI Ltd IPO? How to book ITI Ltd IPO? How to invest ITI Ltd IPO? ITI Ltd IPO kaise buy kare?

     

  3. 3. How to download online application form for ITI Ltd IPO?

    Applying in ITI Ltd IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download ITI Ltd IPO application online and submit to nearest bank or to your broker. With new mandate from SEBI all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.

    For more details on how to use UPI payment method to apply ITI Ltd IPO, please refer article >> Link

    ITI Ltd IPO Review and Important Updates

    Steps to download the online application form for ITI Ltd IPO

    • Step1:Click here.
    • Step2: Click on “Bid-cum Application Form Download
    • Step3: Above Step will open an online form.
    • Step4: Enter your Name, PAN, DP Type, DP Information, UPI No, Bank information (Do not enter), Address, email, phone, Transaction Type - "ASBA".
    • Step5: Fill bid details - min 150 Shares and max 2550 Shares - 17 Lot.
    • Step6: Now fill the character given in Box, read and agree on terms and conditions and click on the download button.
    • Step7: This will fill your application online and give you a pdf file.
    • Step8: Take a print of this document and go to your bank for UPI transactions.
    • Or

    • You can download “Blank Application Form Download” and fill all the required filed and submit to the nearest bank for UPI transaction.

    Other revelevent question on same topics are:

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  4. 4. What is the listing date of ITI Ltd IPO?

    ITI Ltd IPO is going to be list on 14-02-2020. NSE Code for ITI Ltd is ITI. BSE Code for ITI Ltd is 523610.

    Other revelevent question on same topics are:

    When ITI Ltd IPO will be listing? ITI Ltd IPO NSE listing date?ITI Ltd IPO date of listing.ITI Ltd IPO BSE listing date?

     

  5. 5. When ITI Ltd IPO will be allocated?

    ITI Ltd IPO Allotment Date is 10-02-2020.

    Other revelevent question on same topics are:

    ITI Ltd IPO share allotment date?ITI Ltd IPO allotment date?

     

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User Comments

avatar
10. Jitendra  1/31/2020 4:02:59 PM Reply
In continuation with Regulation 142(3), FPO Committee has extended the ITI bid period by 4 working days, now the issue will be closed on February 5, 2020 while keeps price band unchanged.
avatar
10.1. IPO Updates  2/1/2020 9:05:33 AM
One more extension approved for ITI FPO -
We wish to inform you that there is an ongoing banking strike in the country and as per the Regulation 142(3) of the 2018 SEBI ICDR Regulations which states that in case of any force majeure, banking strike or similar circumstance, the issuer may extend the issue period for a minimum of three working days. In accordance with Regulation 142(3) and keeping in mind the circumstances, the FPO Committee has decided to extend the Bid/ Issue Period by four Working days. The Bid/ Issue Closing date is now February 5, 2020. The Price Band will remain the same i.e. Floor Price of Rs. 71 per Equity Share and the Cap Price of Rs. 77 per Equity Share. We request you to take the above on record and the same be treated as compliance under the applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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10.2. Dulal Das  2/5/2020 9:31:15 AM
Looks like ITI FPO is going to be revoked. After the second extension also no major investment coming in this IPO. Retail Subscription is getting more cancelation.
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10.3. IPO Updates  2/5/2020 3:28:06 PM
A 90% subscription is required for FPO to sail through. Even on the last extended day, subscription is at 59% only. The situation will not change by extending the date of closure further, keeping the price band the same.
Next options are:
Lower the price band limits.
Cancel the issue.
Reduce the issue size to fit within 90% subscription.
avatar
9. Naeema   1/31/2020 3:52:06 PM Reply
The FPO committee has further extended the ITI FPO issue closing date from 31st January to 5th February 2020. The price band is still same Rs. 71- Rs. 77 per share.
avatar
8. IPO Updates  1/29/2020 9:14:07 AM Reply
As per BSE subscription data more than 50% bidding at lower price Rs 72. Now the company has revised the lower price band to Rs 71 from Rs 72. Looks like allotment is going to be done on Rs 71.
avatar
8.1. IPO Updates  1/29/2020 9:22:03 AM
BSE Circular:
In continuation to our letter dated 24.01.2020, we wish to further inform you that the Company, in its FPO Committee meeting held on January 28, 2020, has revised its Price Band to the following: 1. Floor Price (as defined in the Red Herring Prospectus): Rs. 71 per Equity Share 2. Cap Price (as defined in the Red Herring Prospectus): Rs. 77 per Equity Share; In accordance with Regulation 142(2) of the 2018 SEBI ICDR Regulations, we have revised our Issue period and extended it by three days. The Bid/ Issue Closing Date will now be January 31, 2020.
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7. Sachin Dad  1/24/2020 12:15:59 PM Reply
ITI FPO - Apply or Not please update?
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7.1. Vinay Jain  1/24/2020 4:01:30 PM
Wait for last date, see QII subscription and take a call.
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7.2. Ashish Jain  1/25/2020 12:00:39 PM
ITI is already listed. Shares will be allotted at Rs.77 and the same will be available to sell on 5th Feb 2020 at exchange on market rate.
As current Market price of ITI is 91, so listing gain will depend the price of ITI on 5th Feb 2020.
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6. Ankit   1/23/2020 10:12:00 AM Reply
Price band of ITI looks attractive.
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5. Vartika Bhatia   1/23/2020 10:02:27 AM Reply
ITI Floor Price: 72 per share
ITI Cap Price: 77 per share
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4. Sonia Mehta   1/22/2020 9:12:57 PM Reply
The lot size (minimum order quantity) of the ITI is 150 shares.
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4.1. Vinay Jain  1/23/2020 8:43:53 AM
10% of issue size is reserved for retail, so only Rs 138.6 crore for retail at upper band. Huge subscription expected. Price band is very good, Current price is around Rs 100. So discount of Rs 23 Per Share on current level. One can plan to Apply for listing gain. Should wait for last day for apply.
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3. Neha Vyas   1/22/2020 4:31:54 PM Reply
ITI Issue price comes; Rs. 72 - Rs. 77/equity share
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2. Vinay Jain  1/20/2020 9:28:01 AM Reply
ITI offering is not an IPO its an FPO , its already listed in NSE and they want to raise more funds .

Currently trading at 100rs per share.
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2.1. IPO Updates  1/20/2020 9:32:23 AM
Yes, Its FPO. The company is already listed on NSE - ITI, BSE - 523610.
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1. IPO Updates  1/18/2020 11:19:25 PM Reply
ITI LTD FPO Price will be between Rs 88 to 92.
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11.1. Manish kothari  1/20/2020 9:06:04 AM
ITI FPO - IPO Updates
Issue price:- Will be declared 2 days prior to issue opening date (i.e. 22-1-2020)
Lot size:- Will be declared 2 days prior to issue opening date (i.e. 22-1-2020)
Issue size:-18,00,00,000/-
QIB:75% (13,50,00,000/-)
NIB:15% (2,70,00,000/-)
Retail: 10%(1,80,00,000/-)
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