ITI Limited , the government-owned telecommunications equipment manufacturer, has received Rs.16 crores as Earnest Money Deposit (EMD) from the Central Goods and Services Tax Department (CGST) for land procurement valuation. The company informed stock exchanges about this development through a regulatory filing under Regulation 30 of SEBI's listing obligations.

Transaction Details

The EMD payment was received on January 28, 2026, representing 2% of the indicative land value as per DPE/NLMC norms. The transaction involves valuation of a substantial land parcel for potential procurement by the CGST Department.

Land Parcel Specifications

The land under consideration is located at K.R. Puram, Bengaluru, covering an area of 21 acres. The CGST Department is seeking valuation from the National Land Monetization Corporation (NLMC) for this property during the current financial year.

Valuation and Settlement Process

ITI Limited clarified that the final valuation of the land will be determined by NLMC, indicating that the current Rs.800 crores figure serves as an indicative value for EMD calculation purposes. Upon completion of the transaction between the CGST Department and the company, the EMD amount already paid will be adjusted against the final transaction value.

This development represents a significant potential land monetization opportunity for ITI Limited, with the EMD receipt confirming the CGST Department's serious intent to proceed with the land procurement process through proper valuation channels.

ITI Limited has submitted its quarterly confirmation certificate to the Bombay Stock Exchange and National Stock Exchange of India for the quarter and nine months ended December 31, 2025. The filing, dated January 20, 2026, fulfills the company's regulatory obligations under SEBI Depositories and Participants Regulation, 2018.

Regulatory Compliance Filing

The confirmation certificate was submitted in accordance with Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulation, 2018. Company Secretary and Compliance Officer Y Sathyan signed the submission letter on behalf of ITI Limited, ensuring timely compliance with stock exchange requirements.

Registrar Confirmation Process

Integrated Registry Management Services Private Limited, serving as ITI Limited's Registrar and Transfer Agent, provided the confirmation certificate dated January 10, 2026. General Manager S Giridhar signed the certificate, confirming proper handling of dematerialization processes during the specified quarter.

The registrar confirmed several key compliance aspects:

• Securities received from depository participants for dematerialization were properly confirmed to depositories
• All securities in the certificates have been listed on stock exchanges where previously issued securities are traded
• Certificates received for dematerialization were mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners within the mandated 15-day period

Corporate Governance Standards

This regulatory filing demonstrates ITI Limited's commitment to maintaining transparency and compliance with securities market regulations. The systematic approach to handling dematerialization processes ensures investor protection and maintains the integrity of share transfer operations.

The confirmation certificate serves as a quarterly attestation that the company and its registrar have followed prescribed procedures for converting physical securities to electronic form, supporting the broader digitization of India's capital markets.