Indian Telephone Industries [FPO] IPO Closed
ITI Limited is issuing shares to the public in a Follow on Public Offer.
A Follow-on Public Offer is launched by an already listed company to issue shares to the public. Like an IPO, this issue can be in the form of new shares or an offer for sale from the promoter or major investor group. ITI Limited is engaged in the business of manufacturing, trading, and servicing of telecommunication equipment. The Government of India holds about 90% of the equity shares in the company and is required to reduce its shareholding to conform with the minimum public shareholding norms.