Vodafone Idea FPO to open today check its GMP and other details

Vodafone Idea: Subscription for Vodafone Idea FPO is going to open today on 18th April. This issue of Rs 18 thousand crore will close on 22 April. The company has fixed the price band for this at Rs 10 to Rs 11 per share. This FPO is very important for the telecom industry and Vodafone Idea. To participate in this FPO, investors will have to purchase at least 1298 equity shares. Experts are confident that investors will fully support this FPO.

Fresh equity shares worth Rs 18 thousand crore will be issued

In this FPO of Vodafone Idea, the company will issue fresh equity shares worth about Rs 18 thousand crores. This 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 launch an FPO worth Rs 20,000 crore in January last year. Investors can buy only 14 lots i.e. 18172 shares in this FPO. Retail investors can invest in it from Rs 14,278 to Rs 1,99,892. Shares will be allotted in this FPO on 23rd April. The shares will be transferred to the demat account on April 24.

Its premium in gray market is running at Rs 1.50.

Vodafone Idea will use Rs 12,750 crore from the proceeds from this FPO to set up a new site, expand 4G and start 5G service. Also Rs 2,175 crore will be given to Telecom Department and GST Department. Vodafone-Idea has suffered a total loss of Rs 23,564 crore from April to December in the financial year 2024. The company has a total debt of Rs 2.13 lakh crore by the end of 2023. According to BSE data, the government's stake in the company is 32.19 percent. Currently the company's stock is trading at Rs 12.95. Its premium is running at Rs 1.50 in the gray market. Its listing can be done at Rs 12.5.

Rs 5400 crore came from anchor investors

Vodafone Idea Limited has received about Rs 5,400 crore from anchor investors before the FPO. This could be the third largest anchor book after One 97 Communications and LIC. One97 Communications had raised Rs 8,235 crore from anchor investors and LIC had raised Rs 5,627 crore. Akshay Mundra, CEO of the country's third largest telecom company, told Money Control that there is a need to increase the call rates in the country. After this FPO, the government's stake will reduce to 24 percent. He also thanked the anchor investors for showing confidence. We will also contact banks after FPO.

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