Vodafone Idea's Follow-on Public Offering (FPO) subscription period kicks off today, April 18, and will run until April 22. The price band for the FPO has been established between ₹10 to ₹11 per share. Investors are required to place a minimum bid of 1,298 equity shares, with subsequent bids allowed in multiples of 1,298 equity shares. Click here to subscribe to the FPO.
By 11:30 AM on the first day, the FPO has garnered bids for 22,10,98,724 shares out of the available 12,60,00,00,001 equity shares, indicating a subscription rate of 0.02 times. The retail segment of the FPO has seen a subscription rate of 0.02 times, while the Non-Institutional Investors (NII) segment has reached 0.03 times subscription.
According to the red herring prospectus (RHP), the proceeds from the FPO will primarily be allocated towards expanding the company's network infrastructure. This includes investments in establishing new 4G and 5G sites, as well as enhancing capacity at existing sites, totaling ₹12,750 Crore. Additionally, a portion of the funds will be allocated for settling deferred payments for spectrum to the Department of Telecommunications (DoT) and associated GST, amounting to ₹2,175 Crore. The remainder will be utilized for general corporate purposes.
Government data reveals that the government holds a 32.19% stake in Vodafone Idea based on the shareholding pattern for the quarter ending in March (Q4FY24), as per BSE records. In a notable development in 2022, Vodafone Idea converted its outstanding debt to the government into a 36% stake, thereby making the Indian government the company's largest shareholder.
In Tuesday's trading session, Vodafone Idea's stock concluded at ₹12.92 per share on the BSE, marking a 1.82% decline.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.