Vodafone Idea FPO to Raise Rs 18000 Crore will Open on April 18, 2024

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vodafone idea fpo to raise rs 18000

Vodafone Idea (Vi), the third-largest telecom operator in India, has announced that its follow-on public offer (FPO) to raise Rs 18,000 crore will be on April 18, 2024. It will close on April 22, 2024. For the anchor investors, it will open two days earlier on April 16, 2024. The telco’s board met on April 11 to pass these dates for raising funds through equity. Vi recently raised Rs 2,075 crore through the issue of preferential shares to Oriana Investments Pte Limited, a subsidiary of the Aditya Birla Group.

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The telco said that it is going to participate in road shows and interact with the investors/analysts starting from the week of April 15, 2024, up to the bid closing date. On April 12, i.e., today, the telco’s Capital Raising Committee is set to meet to consider and approve, amongst other things, the price band and discount, if any, as permitted under the provisions of the SEBI ICDR regulations.

Vi plans to raise Rs 20,000 crore through equity. This FPO will help it reach that goal. The telco also wants to raise another Rs 25,000 crore through debt. This capital will help Vi pay off upcoming dues and also enable the company to increase its capex to expand the reach of its 4G networks. For years now, Vi has been trying to raise funds but hasn’t been able to.