ITI Limited has responded to media reports regarding a tender for a 100 MW, 250 MW, or 500 MW solar PV module manufacturing line at its Naini Unit in Prayagraj. The company confirmed that steps are underway to establish the facility to boost its renewable energy presence. Currently, the initiative remains at the Request for Proposal (RFP) stage. A similar tender floated in March 2025 did not materialize due to high bid rates. ITI maintains that this early-stage process does not constitute price-sensitive information requiring immediate disclosure.
Confirmation of Renewable Energy Initiative
In response to a news report published on www.solarquarter.com, ITI Limited has confirmed that it has initiated steps to establish a significant solar manufacturing capacity at its Naini Unit in Prayagraj. The scope involves setting up a line capable of producing 100 MW, 250 MW, or 500 MW of solar PV modules, aimed at strengthening the company’s position in the renewable energy sector.
Current Status: Tendering Stage
The company specified that the project is presently in the tendering and proposal stage. It was also noted that a similar tender process was previously conducted in March 2025 but failed to materialize because the received bid rates were deemed too high.
Assessment of Disclosure Requirement
ITI Limited is of the view that since this initiative is only in the Request for Proposal (RFP) stage, it does not qualify as price-sensitive information that mandates immediate disclosure under applicable regulations.
Impact on the Company
The announcement explicitly states there is no material impact on the company at this time, as the news item simply reflects the ongoing public tendering process. Furthermore, ITI confirmed that as of the date of the letter, March 18, 2026, there are no pending events or matters that could affect the price or volume behavior of the company’s scrip.
Source: BSE
