Vodafone Idea 180000 Crore Rupees FPO will open on 18 April 2023 Know details of it

Vodafone Idea FPO: The FPO of the country's largest telecom company Vodafone-Idea Limited is opening on Thursday. The company is trying to raise Rs 18,000 crore through this follow-on public offer i.e. FPO. The FPO of the company will open on 18 April 2024 and money can be invested in it till 22 April. FPO has opened today for anchor investors. The company, which is facing cash crunch, is trying to raise money through this FPO. We are giving you information about some important things before the opening of FPO.

This is the largest FPO in the Indian market.

The FPO launched by telecom company Vodafone-Idea is the largest FPO in the Indian market so far. Earlier, Yes Bank had tried to raise Rs 15,000 crore through FPO. After this, Adani Group had tried to bring an FPO of Rs 20,000 crore in January last year, but later the group had decided to withdraw it.

How much price band did the company decide?

The face value of Vodafone-Idea's FPO shares is Rs 10 per share. The company has fixed its price band between Rs 10 to Rs 11 per share. In this FPO you can buy a lot of 1298 shares at one time. At the same time, bidding can be done in maximum 14 lots i.e. 18172 shares at one time. In such a situation, retail investors can invest Rs 14,278 to Rs 1,99,892 in it at one time.

What will the company do with the FPO funds?

The company is going to issue fresh shares in this FPO. In such a situation, the amount raised through FPO will go into the company's account. In this, 50 percent share has been reserved for Qualified Institutional Buyers (QIB), 15 percent share for non-institutional buyers and 15 percent share for retail investors. Shares will be allotted to successful investors in this FPO on April 23. And on April 24, the shares will be transferred to the demat account.

What will the company do with the funds?

Vodafone-Idea has informed that from the amount raised through this FPO, the company will spend Rs 12,750 crore to set up new sites, expand the existing 4G service and start 5G service. Out of this, Rs 2,175 crore will be used to clear the dues of Telecom Department and GST Department.

How is the financial health of the company?

Vodafone-Idea has suffered a total loss of Rs 23,564 crore from April to December in the financial year 2024. The company's revenue during this period has been Rs 32,045 crore. The company has a total debt of Rs 2.13 lakh crore by the end of 2023, out of which the company has to repay a total of Rs 5,385 crore this year.

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