Vodafone Idea Limited Rs. 18,000 Crore FPO to open on April 18

Ahmedabad: Vodafone Idea Limited shall open its Bid / Offer in relation to its Further Public Offering (“FPO”) of Equity Shares on Thursday, 18^th April, 2024.

The Total Offer Size comprises of fresh issue of Equity Shares aggregating up to ₹ 1,80,000 million [₹ 18,000 crore]. The Price Band of the Offer has been fixed at ₹ 10 to ₹ 11 Per Equity Share. Bids can be made for a minimum of 1,298 Equity Shares and in multiples of 1,298 Equity Shares thereafter, the company said in a statement.

The Anchor Investor Bidding Date shall be Tuesday, 16^th April, 2024. The Bid/Offer will open Thursday, 18^th April, 2024 for subscription and close on Monday, 22^nd April, 2024.

The official press statement also states,”The Company proposes to utilize net proceeds from fresh issue of Equity Shares towards funding – (i) Purchase of equipment for the expansion of its network infrastructure amounting to Rs. 1,27,500 million [Rs. 12,750 crore] which includes (a) setting up new 4G sites; (b) expanding the capacity of existing 4G sites and new 4G sites and (c) setting up new 5G sites; (ii) Payment of certain deferred payments for spectrum to the DoT and the GST thereon amounting to Rs. 21,753.18 million [Rs. 2,175 crore]  and (v) balance amount for general corporate purposes. (The “Objects of the Offer”)”

“The Equity Shares offered through this Red Herring Prospectus dated April 11, 2024 are proposed to be listed on the Stock Exchanges. The Company has received ‘in-principle’ approvals from BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”) for the listing of the Equity Shares pursuant to letters each dated April 8, 2024,” the company said.

For the purposes of the Offer, NSE is the Designated Stock Exchange. Axis Capital Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers.