**ITI Ltd (ITI) completes major land asset monetization.** **Issue:** ITI has finalized the long-pending sale of a 21-acre land parcel in K.R.

Puram, Bengaluru, to the Central Goods and Services Tax Department (CGST). This land was previously mortgaged to a consortium of lending banks. **Impact & Company's Response:** The company received Rs. 914.31 Cr from this sale.

A significant portion, Rs. 902.81 Cr, has been used to repay its fund-based borrowings to the banks.

This debt reduction is a major positive, as it has led to the release of the mortgage on the land, allowing ITI to transfer a clear and marketable title.

This move substantially strengthens ITI's balance sheet and reduces its debt burden. #DebtReduction #AssetMonetization #ITILtd