Vodafone Idea FPO opens for subscription: Key things to know about ₹18,000 crore issue

Vodafone Idea FPO date: Vodafone Idea's follow-on public offer (FPO) worth ₹18,000 crore opened for subscription on Thursday, April 18. The price band for the FPO, which will be live till April 22, has been fixed at ₹10-₹11 per share.

If successful, Vodafone Idea's FPO will be India's largest ever at ₹18,000 crore, surpassing ₹15,000 crore share sale by Yes Bank in July 2020. In February 2023, Adani Enterprises had come up with ₹20,000 crore FPO which was fully subscribed. However, it was later cancelled.

The FPO is entirely a fresh issue of equity shares. Half of the FPO is reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.

According to the company, the funds generated will be used for the purchase of equipment to expand network infrastructure by setting up new 4G and 5G sites, expanding existing 4G sites, deferred payments for spectrum to Telecommunications Department and general corporate purposes.

Also Read: Key difference between FPO and IPO?

Vodafone Idea FPO: Key details

• Vodafone Idea FPO subscription date: April 18-22
• Lot size: A minimum bid of 1,298 shares
• Allotment date: April 23
• Refund and credit of shares to successful bidders: 24
• Vodafone Idea FPO listing: April 25

To know more and apply for Vodafone Idea FPO, click here

The telecom services provider has already raised ₹5,4000 crore from anchor investors, including GQG Partners, Motilal Oswal, Fidelity Securities, UBS Fund Management, Morgan Stanley, Abu Dhabi Investment Authority, Jupiter Fund Management, Troo Capital Ltd and Citigroup Global Markets Mauritius.

Vodafone Idea is India's third-largest telecommunications service provider on the basis of a total number of subscribers. The company provides voice, data, SMS, and digital services using 2G, 3G, and 4G technologies.

The promoters of the company include Kumar Mangalam Birla, Grasim Industries Limited, Hindalco Industries Limited, Vodafone International Holdings B.V., Birla TMT Holdings Private Limited, Al-Amin Investments Limited, CCII (Mauritius) Inc., Asian Telecommunication Investments (Mauritius) Limited, Vodafone Telecommunications (India) Limited, Euro Pacific Securities Ltd, Prime Metals Ltd, Mobilvest, Omega Telecom Holdings Private Limited, Trans Crystal Ltd and Usha Martin Telematics Limited.

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