State-owned ITI on Wednesday fixed a price band of ₹72-77 a share for its follow-on public offer, which will hit the capital markets on Friday.
The FPO comprises fresh issue of up to 18 crore equity shares. Besides, an additional issue constituting up to 18 lakh shares will be reserved for employees.
The issue will open on January 24 and close on January 28. At the higher end of the price band at ₹77 per share, the company will garner ₹1,386 crore from the FPO, while at the lower end at ₹72 a share, it will raise ₹1,296 crore, the company said in a statement.
