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Business News/ Markets / Stock Markets/  Vodafone Idea FPO: 10 key things to know about 18,000-crore issue as anchor book opens today
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Vodafone Idea FPO: 10 key things to know about ₹18,000-crore issue as anchor book opens today

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.

Vodafone Idea FPO opens on Thursday, April 18 and will close on Monday, April 22. The anchor investor bidding date is Tuesday, April 16. (Photo: Reuters)Premium
Vodafone Idea FPO opens on Thursday, April 18 and will close on Monday, April 22. The anchor investor bidding date is Tuesday, April 16. (Photo: Reuters)

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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Published: 16 Apr 2024, 11:38 AM IST
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