ITI Limited has informed the Exchange about General Updates
ITI · price
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Awaiting price reaction for this filing.
ITI Limited has received Rs. 25 Crores from C-DOT as part of a land transfer deal. As per a revised order from AMRCD proceedings, ITI will sell 22.258 acres of land at Electronic City, Bangalore to C-DOT for a total consideration of Rs. 200 Crores. A sale deed is being executed between the two parties. The remaining balance of the Rs. 200 Crores will be received once ITI completes the remaining statutory formalities. This is an update to a previously disclosed matter from July 12, 2024.
Positive cash inflow for ITI Limited — Rs. 25 Crores already in hand with Rs. 175 Crores more expected. Provides liquidity boost for this government PSU, though the land sale at the prescribed value may be below what the market would have valued it independently.