Vodafone Idea announces FPO of ₹18,000 crore
The Hindu
Vodafone Idea Ltd. approves ₹18,000 crore FPO with price band of ₹10-₹11, offering 1,298 shares per lot.
The Board of Directors of Vodafone Idea Ltd. (VIL), at its meeting held on April 11, 2024 approved a further public offering (FPO) of equity shares, aggregating up to ₹18,000 crore.
“The Capital Raising Committee in its meeting held today, i.e. April 12, 2024, approved the price band for the FPO issuance,” the company said in a statement. The price band of the FPO is fixed at ₹10 and ₹11 for share with face value of ₹10 each. Applicants can bid for 1,298 shares in one lot or in multiples of 1,298 share thereafter.
The higher end of the price band i.e. ₹11 is at a discount of 26% compared with the recently approved preferential issue price to the promoter entity at ₹14.87 and a discount of 15% compared with last closing price of ₹12.95.
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