Vodafone Idea's Rs 18,000 Crore FPO To Open On April 18 --Key Points

New Delhi: Vodafone Idea Limited has said that it will open its Bid / Offer in relation to its Further Public Offering (FPO) of Equity Shares on Thursday, 18th April, 2024.

"The Company proposes to utilize net proceeds from fresh issue of Equity Shares towards funding - (i) Purchase of equipment for the expansion of its network infrastructure amounting to Rs. 1,27,500 million [Rs. 12,750 crore] which includes (a) setting up new 4G sites; (b) expanding the capacity of existing 4G sites and new 4G sites and (c) setting up new 5G sites; (ii) Payment of certain deferred payments for spectrum to the DoT and the GST thereon amounting to Rs. 21,753.18 million [Rs. 2,175 crore]  and (v) balance amount for general corporate purposes," Vodafone Idea Ltd said.

Here Are The Key Points About The Vodafone Idea FPO

1. The Total Offer Size comprises of fresh issue of Equity Shares aggregating up to Rs 18,000 crore.

2. The Price Band of the Offer has been fixed at Rs 10 to Rs 11 Per Equity Share. 

3. Bids can be made for a minimum of 1,298 Equity Shares and in multiples of 1,298 Equity Shares thereafter. 

4. The Anchor Investor Bidding Date shall be Tuesday, 16th April, 2024. 

5. The Bid/Offer will open Thursday, 18th April, 2024 for subscription and close on Monday, 22nd April, 2024.

6. The Equity Shares offered through this Red Herring Prospectus dated April 11, 2024 are proposed to be listed on the Stock Exchanges. 

7. For the purposes of the Offer, NSE is the Designated Stock Exchange.

8. Not more than 50% of the Offer shall be allotted on a proportionate basis to Qualified Institutional Buyers

9. Company in consultation with the Book Running Lead Managers, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis

10. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only

11. Remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids being received from Mutual Funds at or above the Offer Price.

12. Not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders

13. Axis Capital Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the Book Running Lead Managers.