ITI Shares Soar 13% on Rs 3,500 Cr Land Monetization Plan to Clear Debt

• ITI shares surged 13% after plans to monetize 91.43 acres of land in Bengaluru to raise Rs 3,500 crore were reported.
• The funds are intended to clear the company's bank loans (Rs 1,325 crore) and pending employee/statutory dues (Rs 339 crore).
• Union Minister Pemmasani Chandrasekhar confirmed the government's plan to monetize land parcels in Krishnarajapura, Bengaluru.
• Four specific land parcels, including a 44.03-acre plot valued at Rs 1,651.20 crore, have been identified for sale.
• Despite an initial surge, the stock closed 5.3% higher due to profit booking, with high trading volume.

Why It Matters: ITI plans to monetize land worth Rs 3,500 crore to clear debt and dues, boosting shares.