Vodafone Idea FPO announced: ₹18000 crore offer coming on this date - Hindustan Times
close_game
close_game

Vodafone Idea FPO announced: 18000 crore offer coming on this date

Apr 13, 2024 12:28 AM IST

Beleaguered telecom company Vodafone Idea FPO has finally been announced.

Beleaguered telecom company Vodafone Idea FPO has finally been announced and it has been pegged at 18,000 crore. This Vodafone Idea share sale is the biggest follow-on public offer ever. Considering its massive debt, the company needs to raise funds to stay alive. Vodafone Idea aka Vi is in the fight of its life as it battles fierce rivals Reliance Jio and Bharti Airtel for the vast Indian market.

The <span class='webrupee'>₹</span>18000 crore Vodafone Idea FPO will help the company better fight its rivals Reliance Jio and Bharti Airtel.(REUTERS)
The 18000 crore Vodafone Idea FPO will help the company better fight its rivals Reliance Jio and Bharti Airtel.(REUTERS)

So, what is the Vodafone Idea fund plan?

1. Target

Unlock exclusive access to the latest news on India's general elections, only on the HT App. Download Now! Download Now!

* Vodafone Idea to raise up to 18,000 crore.

2. Share Sale Details

* Shares price band - 10-11 apiece.

* Important Dates - April 18 (offer opens) and April 22 (Offer closes).

Read More: Win themes: Artificial intelligence and cloud contracts power TCS profits

3. Vi FPO Significance

* Till now Yes Bank's 15,000 crore sale in 2020 was the largest FPO ever.

* Funding to improve Vodafone Idea’s position vis a vis rivals

4. Funds utilisation

* Boost 4G services and clear dues.

* 5G rollout.

Read More: TCS salary hike 2024: How high were the increments? Find out now

5. Current Debt

* Debt of 2.1 lakh crore and quarterly losses.

6. Price Band and Bidding

* Floor price set at 10, cap at 11 per equity share.

* Minimum bid lot: 1,298 equity shares.

7. Preferential Issue

* Raised 2,075 crore from Aditya Birla Group earlier in April.

* Shareholders approved raising up to 20,000 crore in an EGM on April 2.

8. Future Fundraising

* Aim to raise 45,000 crore through equity and debt.

* Focus on ramping up network capex and narrowing gap with peers.

Read More: Morgan Stanley IT services Q4 outlook: Growth or not? Here is what to expect

9. Price Hike

* Potential tariff hikes and AGR relief may boost cash flow.

10: Vodafone Idea share price

* Vodafone Idea shares declined nearly 6% on the Bombay Stock Exchange (after FPO announcement). It later rebounded and recovered the lost ground. It closed at 12.96, showing a marginal increase of 0.23%.

Tell us what your First Vote will stand for in a short video & get a chance to be featured on HT’s social media handles. Click here to know more!

Get Current Updates on India News, Elections 2024,, Election 2024 Date along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, May 20, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On