ITI Ltd executed the sale deed for 21 acres of land at K.R. Puram, Bengaluru, in favor of the Central Goods and Services Tax Department (CGST), Government of India, for a total consideration of ₹914.31 Crores on July 2, 2026. The transaction, registered with the appropriate state local authority, concludes the sale process that began with the receipt of an Earnest Money Deposit in January 2026. The execution of the release deed enables the transfer of a clear and marketable title for the property situated in Krishnarajapuram Village, Bengaluru East Taluk.

The land parcel was previously mortgaged in favor of SBICAP Trustee Company Limited, acting as Security Trustee for a consortium of lending banks. Following the receipt of funds, the company repaid ₹902.81 Crores toward fund-based borrowings. This repayment was derived from the net total amount received of ₹914.31 Crores, after deducting Income Tax TDS of ₹9.14 Crores and NLMC charges of ₹2.36 Crores.

SBICAP Trustee Company Limited executed a Release Deed dated June 19, 2026, discharging the mortgage and charge over the land. The company had initially disclosed the status of this transaction in its Audited Financial Results for the quarter and year ended March 31, 2026, submitted on May 29, 2026. The sale consideration was finalized and approved by the National Land Monetisation Corporation (NLMC).

Transaction Breakdown

The following table outlines the financial details of the land sale and the utilization of proceeds:

The receipt of No Objection Certificates from the consortium of lending banks preceded the execution of the release deed. The sale is part of the company's strategic asset monetization efforts.

ITI Limited appointed Shri Rajesh Rai as Director (Production) on additional charge for three months effective July 1, 2026, following the superannuation of S. Jeyanthi. The appointment, entrusted by the Government of India, Ministry of Communications, is valid until September 30, 2026, or until a regular incumbent is appointed. Rajesh Rai, who holds the DIN 10052045, currently serves as the Chairman & Managing Director and Director HR (Additional Charge) of ITI Limited.

Regulatory Disclosure

The company informed the stock exchanges regarding the appointment under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure confirmed that the additional charge was sanctioned via government order No. E-14-1/2026-PSA dated June 29, 2026. It was further clarified that Rai is not debarred from holding the office of director by any order of SEBI or other authorities.

Government Order and Terms

The Department of Telecommunications issued the order entrusting the additional charge to the Chairman & Managing Director. The communication specified that the appointment is subject to the instructions contained in the Department of Personnel & Training's Office Memorandum dated August 17, 2005. According to the order, Rai will not be entitled to any additional remuneration during the period he holds this additional charge.

Appointment Details