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Vodafone Idea FPO: Vodafone Idea share price declined over 4% on Tuesday ahead of the company’s follow-on-public offer (FPO) which will open on April 18.
Telecom operator Vodafone Idea is set to launch its FPO to raise ₹18,000 crore and anchor investors bidding opens today, April 16.
Vodafone Idea FPO is slated to be India’s biggest FPO, if successful, after Yes Bank’s ₹15,000 crore FPO in July 2020. The ₹20,000 crore worth Adani Enterprises FPO in 2023 was cancelled after being fully subscribed.
Read here: Vodafone Idea to launch ₹18,000 crore FPO at ₹10-11 price band
Let us check some key things to know about Vodafone Idea FPO.
Vodafone Idea FPO: 10 key things to know
1] Vodafone Idea FPO Date: The bidding for Vodafone Idea FPO opens on Thursday, April 18 and will close on Monday, April 22. The anchor investor bidding date is Tuesday, April 16.
2] Vodafone Idea FPO Price Band: The Aditya Birla Group company has fixed the price band for the FPO at ₹10 to ₹11 per equity share of a face value of ₹10 each.
Also Read: Vodafone Idea FPO: GQG Partners, Fidelity, HDFC MF, Quant MF likely to participate in anchor book, says Report
3] Vodafone Idea FPO Size: The total offer size of Vodafone Idea FPO is ₹18,000 crore.
4] Vodafone Idea FPO Details: The FPO comprises a fresh issue of up to 1,636.36 crore equity shares aggregating up to ₹18,000 crore.
5] Vodafone Idea FPO Lot Size: The FPO lot size is 1,298 shares. Bids for Vodafone Idea FPO can be made for a minimum of 1,298 equity shares and in multiples of 1,298 shares thereafter. The minimum investment amount required by retail investors will be ₹14,278.
6] Vodafone Idea FPO Reservation: The company has reserved 50% of the FPO for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and the remaining 35% for retail investors.
Also Read: Vodafone Idea expects full subscription to ₹18,000-cr FPO; 5G to get boost
7] Vodafone Idea FPO Lead Manager: Axis Capital, Jefferies India and SBI Capital Markets are the book-running lead managers of the Vodafone Idea FPO
8] Vodafone Idea FPO Registrar: Link Intime India Private Ltd is the Vodafone Idea FPO registrar.
9] Vodafone Idea FPO Listing Date: Vodafone Idea FPO allotment is expected to be finalized on April 23, while the shares will be credited to demat accounts by April 24.
10] Vodafone Idea FPO Objectives: Vodafone Idea proposes to utilize net proceeds from fresh issue of equity shares towards purchase of equipment for the expansion of its network infrastructure amounting to ₹12,750 crore; expanding the capacity of existing 4G sites and new 4G sites and setting up new 5G sites; Payment of certain deferred payments for spectrum to the DoT and the GST thereon amounting to ₹2,175 crore and balance amount for general corporate purposes.
Also Read: Vodafone Idea FPO: Kotak highlights 3 crucial points how the public issue will impact the company
Vodafone Idea shareholders had approved fundraising worth ₹45,000 crore, including a ₹20,000 crore equity-based capital infusion from existing investors.
The fundraising is critical for the debt-laden company, burdened with a ₹2.1 lakh crore debt, including over ₹1.3 lakh crore owed for spectrum to the government, and ₹65,000 crore in adjusted gross revenues dues.
At 11:35 am, Vodafone Idea shares were trading 3.04% lower at ₹12.76 apiece on the BSE.
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