On 24th Jan 2020, on the main day of the ITI FPO membership period, the FPO bought in to 6%. Among, the 18,18,00,000 offers it got 1,01,27,550 offers on the main day with shares cost of Rs 72 to Rs 77. The RII bought in 18% of offers for 32,98,650 offers and got Rs 138.6 crore.
The NIIs got less subscription shares i.e, 1,01,400 offers. Additionally, the QIBs got 66,66,000 offers, correspondingly, the representative class bought in to 3%.
In addition, the organization intends to use the raised amount for the reimbursement procedure through FPO. The organization previously having a working capital of Rs 936 cr from the affiliated bank SBI. SBI is perhaps the greatest bank in India. It having almost Rs 300 cr credit from the Indian government and Dab.
The second day of subscription:
On Jan 27, the Indian Telephone Industries subscribed to 9%. It got 1,37,00,000 offers rather than 18,18,00,000 value shares. The RIIs bought in half, QIIs got 5% and NIIs got 1% on the second day of the membership time frame.
Besides, in the wake of finishing the membership, the administration investor will diminish their shareholdings from 90% to 74.96%. The organization related with customers through BSNL, BBNL, MTNL, Indian Armed force and Protection.
The ASCON, BharatNet, Keen Vitality Meters, and E-Government Projects are the administration ventures required by the ITI.
The organization intends to present another venture in various segments, for example, optical and information, defense Security, IoT.