ITI emerges lowest bidder for three BharatNet packages; shares up 11 %

ITI shares surged over 11 per cent following its emergence as the lowest bidder for three packages of BharatNet Phase-3 projects for a total value of ₹4,559 crore.

According to a stock exchange report, the company has emerged as the lowest bidder (L1) for Project 15, which involves work across the north-eastern states of Arunachal Pradesh, Nagaland, and Manipur, with an estimated value of ₹1,537 crore.

The company has also secured Package 8 for Himachal Pradesh and Package 9 for West Bengal and the Andaman and Nicobar Islands, valued at ₹3,022 crore.

The project is divided into 16 packages to cover every state and Union Territory. It involves the design, supply, construction, and maintenance of a middle-mile network under a design-build-operate-maintain model.

The shares closed at ₹327. 40, up 7.84 per cent on the BSE.