Business

ITI FPO opens on January 24

Public sector unit ITI has announced the launch of its follow-on public offerFPO. The issue will open on January 24, and close on January 28.

The FPO will comprise a fresh issue of 18 crore equity shares and additional issue of 18 lakh equity shares in the price band of ₹72 to ₹77.

The proceeds, expected to be in the range of ₹1,308 crore to ₹1,398 crore, would be utilised to pay back its loan outstanding of ₹607 crore while another ₹642 crore would be used as working capital, said the PSU here on Thursday.

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Printable version | Jul 7, 2020 12:55:57 PM | https://www.thehindu.com/business/iti-fpo-opens-on-january-24/article30636752.ece

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