Vodafone Idea Limited (Vi) is gearing up for a significant stride in the telecom arena with its forthcoming Further Public Offering (FPO) of Equity Shares, poised to infuse a staggering ₹ 18,000 crore into its operations. The FPO, slated to kick off on April 18, 2024, will witness a price band of ₹ 10 to ₹ 11 per Equity Share, with bids starting from 1,298 shares.
Scheduled to run until April 22, 2024, the FPO holds strategic implications for Vi’s expansion plans, particularly in bolstering its network infrastructure. A substantial portion of the proceeds, totaling ₹ 1,27,500 million, is earmarked for enhancing 4G and 5G capabilities, along with clearing deferred spectrum payments and meeting general corporate needs.
With the Red Herring Prospectus already in circulation and approvals secured from leading stock exchanges, including BSE and NSE, Vi’s move underscores a pivotal moment in the company’s trajectory. The FPO, conducted under SEBI regulations, promises equitable allocation to Qualified Institutional Buyers (QIBs) and Retail Individual Bidders (RIBs), aligning with market dynamics.
