ITI Limited has received an initial tranche of Rs. 100 crore from the Centre for Development of Telematics (C-DoT) as part of the revised Asset Monetization and Resource Consolidation Drive (AMRCD) proceedings. This payment is in accordance with the agreement to transfer 22.258 acres of land situated in Electronic City, Bangalore, to C-DoT.
As per the revised AMRCD order, ITI Limited is set to sell the specified land parcel to C-DoT for a total consideration of Rs. 200 crore. The company confirmed that the remaining balance will be received upon completion of statutory formalities.
This development marks a key milestone in ITI Limited’s ongoing asset monetization efforts. The company had previously communicated updates on the proceedings to stock exchanges, ensuring compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
ITI Limited has assured stakeholders that further updates will be provided upon completion of the transaction. The company’s official website will also reflect the latest information regarding this deal.
Key Details:
- Transaction: Land transfer between ITI Limited and C-DoT
- Total Consideration: Rs. 200 crore
- Initial Tranche Received: Rs. 100 crore (on February 19, 2025)
- Remaining Balance: To be received post-statutory approvals
- Location: 22.258 acres in Electronic City, Bangalore
ITI Limited remains focused on leveraging its assets effectively while maintaining transparency with investors and regulatory authorities.
