ITI FPO subscribed 9% a day before close; firm plans to raise Rs 1,300 cr

The follow-on offering (FPO) of ITI, a government-owned technology firm operating in the telecom sector, was subscribed 9 per cent on Monday. The FPO closes on Tuesday. The price band for the FP0 is Rs 72-Rs 77 per share. The firm is looking to raise fresh capital of over Rs 1,300 crore. The issue will lead to dilution of 20 per cent.