ITI FPO Review

IPO Status: Withdrawn [24th Jan 2020 to 5th Feb 2020]

Rated 3.5/5 by Team InvestorGain

ITI Ltd IPO Details

IPO Issue Opening Date:	24th Jan 2020
IPO Issue Closing Date:	5th Feb 2020
IPO Issue Price:	₹71 to 77 Per Share
DRHP:	Download DRHP
RHP:	Download RHP
Anchor List:	Download Anchor List
IPO Listing At:	BSE, NSE
Retail Quota:	10.89
IPO Issue Type:	Book Build Issue
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 Discount:	NIL
Promoter Holding Pre IPO:	89.97%
Promoter Holding Post IPO:	74.83%
BSE Code:	523610
NSE Code:	ITI

ITI Ltd IPO Important Dates

Get important updates regarding ITI Ltd IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.

ITI Ltd IPO dates
IPO Activity	Date
Basis of Allotment Date*	10th Feb 2020
Refunds Initiation*	10th Feb 2020
Credit of Shares to Demat*	13th Feb 2020
IPO Listing Date*	14th Feb 2020

* - Tentative Dates

ITI Ltd IPO Lots

IPO Activity	Date
Issue Price	₹71 to 77
Market Lot:	150 Shares
1 Lot Amount:	₹0
Min Small HNI Lots(2-10 Lakh):	TBD
Min Big HNI Lots(10+ Lakh):

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About Company - ITI Ltd

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 IPO withdrawn as its under subscribed after extension also.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 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.

Incorporation	Sector	IPO Issue Size	Website
NULL	NULL	₹1,308.96 Cr. - 1,399.86 Cr.	www.itiltd-india.com

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 Live Subscription (NSE + BSE)

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

Qualified Institutional Buyers: 135,000,000 Shares
Non-Institutional Investors: 27,000,000 Shares
Retail Individual Investor: 18,000,000 Shares
Employees Quota: 1,800,000 Shares

IPO Bidding Live Updates from BSE + NSE
Day		QIB	NII	RII	EMP	Total
	# of Shares Offered	135,000,000 (74.26%)	27,000,000 (14.85%)	18,000,000 (9.9%)	1,800,000	181,800,000
1	24th Jan 2020 17:02	0.05x	0.00x	0.18x	0.03x	0.06x
2	27th Jan 2020 17:02	0.05x	0.01x	0.50x	0.18x	0.09x
3	28th Jan 2020 17:02	0.49x	0.16x	0.92x	0.65x	0.49x
4	29th Jan 2020 17:02	0.49x	0.16x	0.94x	0.70x	0.49x
5	30th Jan 2020 18:02	0.49x	0.16x	0.98x	0.79x	0.49x
6	31st Jan 2020 17:02	0.59x	0.17x	1.05x	0.87x	0.58x
7	3rd Feb 2020 17:02	0.59x	0.17x	1.02x	0.89x	0.57x
8	4th Feb 2020 17:02	0.59x	0.17x	1.01x	0.92x	0.57x
9	5th Feb 2020 17:02	0.63x	0.23x	1.06x	0.98x	0.62x

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

Company Address

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

ITI Ltd IPO Registrar

Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.
Website: https://kosmic.kfintech.com/ipostatus/
Phone: 04067162222, 04079611000
Email: [email protected]

ITI Ltd IPO Lead Manager

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 19-Feb-2020 22:47:13

User Reviews

10. Jitendra Jan 31 2020 04:02:59 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.

10.1. IPO Updates Feb 01 2020 09:05:33 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

10.2. Dulal Das Feb 05 2020 09:31:15 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.

10.3. IPO Updates Feb 05 2020 03:28:06 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.

9. Naeema Jan 31 2020 03:52:06 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.

8. IPO Updates Jan 29 2020 09:14:07 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.

8.1. IPO Updates Jan 29 2020 09:22:03 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.

7. Sachin Dad Jan 24 2020 12:15:59 PM Reply

ITI FPO - Apply or Not please update?

7.1. Vinay Jain Jan 24 2020 04:01:30 PM

Wait for last date, see QII subscription and take a call.

7.2. Ashish Jain Jan 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.

6. Ankit Jan 23 2020 10:12:00 AM Reply

Price band of ITI looks attractive.

5. Vartika Bhatia Jan 23 2020 10:02:27 AM Reply

ITI Floor Price: 72 per share
ITI Cap Price: 77 per share

4. Sonia Mehta Jan 22 2020 09:12:57 PM Reply

The lot size (minimum order quantity) of the ITI is 150 shares.

4.1. Vinay Jain Jan 23 2020 08:43:53 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.

3. Neha Vyas Jan 22 2020 04:31:54 PM Reply

ITI Issue price comes; Rs. 72 - Rs. 77/equity share

2. Vinay Jain Jan 20 2020 09:28:01 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.

2.1. IPO Updates Jan 20 2020 09:32:23 AM

Yes, Its FPO. The company is already listed on NSE - ITI, BSE - 523610.

1. IPO Updates Jan 18 2020 11:19:25 PM Reply

ITI LTD FPO Price will be between Rs 88 to 92.

11.1. Manish kothari Jan 20 2020 09:06:04 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/-)
HAPPY INVESTMENT

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