Vodafone Idea’s Follow-on Public Offering (FPO) will start accepting subscriptions on April 18 and will end on April 22. The company has set a price range of Rs 10 to Rs 11 per share for the FPO.
Foreign institutional investors like GQG Partners led by Rajiv Jain, Fidelity, and several Indian institutional investors such as HDFC Mutual Fund, Motilal Oswal Mutual Fund, and Quant Mutual Fund are planning to join in the massive Rs 18,000 crore follow-on public offering (FPO) of Vodafone Idea Ltd. These investors are expected to take part in the anchor book allocation of the FPO, which is the largest share sale by an Indian company so far. They might also bid for shares in the main book of the FPO, which starts accepting subscriptions on April 18. The anchor book allocation, which is offered to institutional investors a day before the FPO launch, will be announced later on Tuesday. This allocation serves as an indication of the interest of institutional investors in the offering.
Emails sent to representatives of Vodafone Idea, GQG, Fidelity, HDFC Mutual Fund, and Motilal Oswal did not receive responses by the time of press. A spokesperson for Quant Mutual Fund declined to provide a comment.
The Vodafone Idea Follow-on Public Offering (FPO) will be open for subscription from April 18 to April 22. The company has set a price range of Rs 10-11 per share for the FPO. The smallest amount of shares that can be bid for subscription is 1,298 equity shares.
Out of the total money raised from the FPO, Vodafone Idea plans to use Rs 12,750 crore to purchase equipment for expanding its network infrastructure. This includes setting up new 4G sites, increasing the capacity of existing 4G sites, and establishing new 5G sites, as stated in the offer document submitted by the company.
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