July 14, 2025 05:35 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Canada is not your playground': Khalistani terrorist Gurpatwant Singh Pannun's threat to Kapil Sharma | 'Don't jump into conclusions, wait for final report of Air India crash probe': Civil Aviation Minister | IIM Calcutta student alleges rape at boys' hostel amid uproar over Kasba incident | Preliminary investigation report shows both engines of crashed Air India flight shut down seconds after take-off | Pardon by Yemeni national's family is only hope for Indian nurse Nimisha Priya: Activist | S Jaishankar likely to visit China this weekend for the first time in 5 years: Report | 'Show me one photo of Indian damage': Ajit Doval slams foreign media over Op Sindoor reportage | Tennis player Radhika Yadav was shot four times by her father: Autopsy report | Pakistani actress Humaira Asghar, whose decomposed body was recovered from Karachi flat, died 9 months ago: Report | Radhika Yadav's death: Father spent 2.5 crore on tennis

Vodafone Idea FPO worth Rs 18,000 cr to open on Apr 18

| @indiablooms | Apr 15, 2024, at 12:14 am

Mumbai: Vodafone Idea has announced its follow-on public offer (FPO) worth Rs 18,000 crore which will be open for subscription starting April 18.

The floor price is set at Rs 10 per share and a cap at Rs 11. The FPO will conclude on April 22, with anchor bids to be approved on April 16, as stated in the company's filing to the exchange.

The company, burdened with debt, has appointed Jefferies, SBI Caps, and Axis Capital as lead managers for this substantial offering, marking it as one of the largest in India.

Investors can participate with a minimum bid lot of 1,298 equity shares, with the minimum application amount set at Rs 14,278 for one lot of shares at the upper end of the price band. Subsequent bids can be made in multiples of 1,298 equity shares.

The FPO follows the approval by the company's board on February 27 to raise up to Rs 20,000 crore through equity.

Recently, the company raised Rs 2,075 crore through the issuance of preferential shares to one of its promoter entities, Oriana Investments Pte Ltd, affiliated with the Aditya Birla Group. These shares were priced at Rs 14.87 each, marking a 40 percent increase from the FPO floor price.

In addition to the planned equity raise of Rs 20,000 crore, the telecom operator is reportedly in discussions with banks to secure debt funding, aiming for a total capital infusion of Rs 45,000 crore through a combination of equity and debt.

According to a recent report by brokerage CLSA, Vodafone Idea's shares could decline to Rs 5, following a loss of 17 million subscribers over the past year. Beyond its capital expenditure and 5G deployment, the company may encounter financial pressure in fiscal year 2026, when annual spectrum and AGR payments totaling up to $4 billion become due, unless the government converts debt principal into equity at the end of the moratorium. CLSA has reiterated its "sell" rating on the stock, reported Moneycontrol.

Although Vodafone Idea's shares have doubled over the past year, they have dropped by 30 percent from their recent peak. As of the April 12 session, the stock is under F&O ban, meaning no new positions can be initiated, reported Moneycontrol

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu