ITI sells 21-acre Bengaluru land to CGST for Rs 914 Cr; debt repaid
ITI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ITI Limited has executed a Sale Deed on 2 July 2026 to sell about 21 acres of land at K.R. Puram, Bengaluru to the CGST East Commissionerate, Government of India, for a total sale consideration of Rs 914.31 Crores. After TDS of Rs 9.14 Crores and NLMC charges of Rs 2.36 Crores, the net amount of Rs 902.81 Crores was used to fully repay fund-based borrowings to the consortium of lending banks. SBICAP Trustee Company has released the mortgage on the land. NLMC had approved the sale price.
Major debt reduction of about Rs 903 Cr strengthens the balance sheet and cuts interest costs. Positive for shareholders, though one-time land monetisation.