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ITI extends FPO, cuts price band after failing to garner full subscription

So far, the FPO has garnered only 50 per cent subscription

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Samie Modak Mumbai
ITI on Tuesday extended its follow-on offering (FPO) by three days and lowered the price band after failing to garner full subscription. ITI is a government-owned technology firm operating in the telecom sector.
 
The lower end of the price band has been revised from Rs 72 per share to Rs 71 per share. So far, the FPO has garnered only 50 per cent subscription. Shares of ITI extended their losing streak to close at Rs 83 on the BSE. Ahead of the FPO, the stock traded above Rs 90 per share.
 
Through the FPO, the company is looking

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First Published: Jan 28 2020 | 11:48 PM IST

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