Vodafone Idea FPO: Vodafone Idea FPO to open today, know all details including GMP.

Vodafone Idea: Vodafone Idea FPO subscription is going to open today on 18th April. This issue of Rs 18,000 crore will close on April 22. The company has set a price band of Rs 10 to Rs 11 per share for this. This FPO is very important for the telecom industry and Vodafone Idea. To participate in this FPO, investors have to purchase at least 1298 equity shares. Experts are confident that investors will fully support this FPO.

18 thousand crores of fresh equity shares will be issued.

In this FPO of Vodafone Idea, the company will issue fresh equity shares worth around Rs 18,000 crore. It is the largest FPO ever in the Indian market. Earlier, Yes Bank had tried to raise Rs 15,000 crore through FPO. After that, Adani Group tried to launch a Rs 20,000 crore FPO in January last year. Investors can buy only 14 lots i.e. 18172 shares in this FPO. Retail investors can invest in it from Rs 14,278 to Rs 1,99,892. Shares will be allotted in this FPO on April 23. The shares will be transferred to the demat account on April 24.

Its premium is running at Rs 1.50 in the gray market.

Vodafone Idea will use Rs 12,750 crore from the proceeds from this FPO to set up a new site, expand 4G and launch 5G service. Apart from this, Rs 2,175 crore will be given to the Telecom Department and the GST Department. Vodafone-Idea has posted a total loss of Rs 23,564 crore in FY24 from April to December. The company has a total debt of Rs 2.13 lakh crore till the end of 2023. According to BSE data, the government’s stake in the company is 32.19 percent. The company’s stock is currently trading at Rs 12.95. Its premium is running at Rs 1.50 in the gray market. It can be listed for Rs 12.5.

5400 crores came from anchor investors

Vodafone Idea Ltd has raised around Rs 5,400 crore from anchor investors ahead of the FPO. It could be the third largest anchor book after One 97 Communications and LIC. One97 Communications raised Rs 8,235 crore from anchor investors and LIC raised Rs 5,627 crore. Akshay Mundra, CEO of the country’s third largest telecom company, told Moneycontrol that there is a need to increase call rates in the country. After this FPO, the government’s stake will be reduced to 24%. He also thanked the anchor investors for showing confidence. After the FPO we will also contact the banks.

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