Vodafone Idea to launch Rs 18,000 crore FPO on April 18.
Vodafone Idea's Rs 18,000 crore FPO opens Apr 18, aims for Rs 20,000-45,000 crore raise with debt, share sale.
Vodafone Idea announced that its follow-on public offer (FPO) worth Rs 18,000 crore will commence on April 18, with a floor price of Rs 10 per share and a cap of Rs 11. The subscription period will close on April 22, with anchor bids set to be approved on April 16.
The FPO, managed by Jefferies, SBI Caps, and Axis Capital, is anticipated to be one of India's largest offerings. Investors can bid for a minimum lot of 1,298 equity shares, with the minimum application amount standing at Rs 14,278 for one lot. The FPO follows the company's board approval in February to raise up to Rs 20,000 crore through equity.
Additionally, Vodafone Idea recently raised Rs 2,075 crore through preferential shares issued to Oriana Investments Pte Ltd, a promoter entity of the Aditya Birla Group, at Rs 14.87 per share. The telecom operator is also exploring debt funding options to raise a total of Rs 45,000 crore. However, brokerage CLSA expressed concerns over the company's subscriber loss and potential financial challenges in fiscal year 2026, maintaining a "sell" rating on the stock.
Despite doubling in value over the past year, Vodafone Idea shares have experienced a 30 percent correction from their recent peak. As of April 12, the stock is under the F&O ban, prohibiting the creation of new positions.
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