New Delhi: Ailing telecom operator Vodafone Idea (VIL) on Friday said it plans to raise up to Rs 18,000 crore through share sale in the biggest follow-on public offer (FPO) as it moves to mobilise resources to invigorate operations and work towards launching 5G.
Vodafone Idea shares will be issued, under the FPO, in a price band of Rs 10-11 apiece against Friday’s closing price of nearly Rs 13 on the BSE.The share sale will open on April 18 and close on April 22, the country’s third-largest telecom carrier said in an official filing.
This will be the largest FPO surpassing the previous highest of Rs 15,000 crore share sale by Yes Bank in 2020. VIL’s fundraising, which comes close on the heels of Rs 2,075 crore capital infusion by Aditya Birla group via a preferential share issue earlier this month, would give the telecom company money to shore up its positioning in the market,…
Vodafone Idea shares will be issued, under the FPO, in a price band of Rs 10-11 apiece against Friday’s closing price of nearly Rs 13 on the BSE.The share sale will open on April 18 and close on April 22, the country’s third-largest telecom carrier said in an official filing.
This will be the largest FPO surpassing the previous highest of Rs 15,000 crore share sale by Yes Bank in 2020. VIL’s fundraising, which comes close on the heels of Rs 2,075 crore capital infusion by Aditya Birla group via a preferential share issue earlier this month, would give the telecom company money to shore up its positioning in the market,…
