Vodafone Idea Limited (Vi) is set to commence its Further Public Offering (FPO) of Equity Shares on Thursday, April 18, 2024, with a total offer size of up to ₹ 1,80,000 million [₹ 18,000 crore]. The FPO will feature a price band of ₹ 10 to ₹ 11 per Equity Share, with bids open for a minimum of 1,298 Equity Shares and in multiples of 1,298 Equity Shares thereafter. The Bid/Offer period will begin on April 18, 2024, and conclude on April 22, 2024, while the Anchor Investor Bidding Date is set for April 16, 2024.
Vi aims to utilize the net proceeds from the FPO for several purposes, including the expansion of its network infrastructure, payment of deferred payments for spectrum to the Department of Telecommunications (DoT), and GST thereon, along with funds allocated for general corporate purposes.The Equity Shares offered through the Red Herring Prospectus dated April 11, 2024, are proposed to be listed on the Stock Exchanges, with ‘in-principle’ approvals received from BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) for the listing of the Equity Shares.
The FPO will be conducted through the fast track route in accordance with SEBI ICDR Regulations, with allocation to Qualified Institutional Buyers (QIBs) and Non-Institutional Bidders, including Retail Individual Bidders (RIBs), subject to valid bids being received at or above the offer price.Axis Capital Limited, Jefferies India Private Limited, and SBI Capital Markets Limited are the appointed Book Running Lead Managers for the FPO. All potential bidders, excluding Anchor Investors, are required to utilize the Application Supported by Blocked Amount (ASBA) process to participate in the offering.
