Vodafone Idea's Rs 18,000-crore FPO is part of a broader plan to raise Rs 45,000 crore through debt and equity.
live bse livense live Volume Todays L/H More ×Vodafone Idea Ltd's follow-on-public offer (FPO) opened for subscription on April 18, and was subscribed 26 percent.
The issue received bids for 331.17 crore shares out of 1,260 crore shares on offer.
The HNIs have bid for 74.89 crore shares against the reserved portion of 270 crore shares.
Qualified Institutional Buyers (QIBs) have picked 61 percent of their allotted quota as they bid for 217.94 crore shares against the 360 crore shares allotted to them.
Vodafone Idea's Rs 18,000-crore FPO is part of a broader plan to raise Rs 45,000 crore through debt and equity.
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Vodafone Idea Ltd's follow-on-public offer (FPO) opened for subscription on April 18, and was subscribed 26 percent. The issue received bids for 331.17 crore shares out of 1,260 crore shares on offer.
Retail investors, employees, high net-worth individuals (HNIs) and qualified institutional buyers (QIBs) have started putting in bids for the offer.
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Retail investors have bought 6 percent of their allotted quota and HNIs (non-institutional investors) have bought 28 percent of their allotted quota. The HNIs have bid for 74.89 crore shares against the reserved portion of 270 crore shares.
Qualified Institutional Buyers (QIBs) have picked 61 percent of their allotted quota as they bid for 217.94 crore shares against the 360 crore shares allotted to them.
There is a minimum bid limit of 1,298 equity shares, and beyond that, bids may be placed in multiples of 1,298 equity shares.
The subscription will close on April 22. The price band of the issue is fixed at Rs 10-11 per share. The company aims to raise Rs 18,000 crore from the FPO.
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The debt-ridden telecom plans to use Rs 12,750 crore from the proceeds to purchase equipment for the expansion of its network infrastructure by setting up new 4G and 5G sites as well as expanding its existing capacities. Additionally, around Rs 2,175.31 crore will be used for deferred payments for spectrum to the Department of Telecom and GST, and the remaining funds will be used for corporate purposes.
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The telecom operator has raised Rs 5,400 crore from several institutional investors via an anchor book launched on April 16, a day before the FPO opening. A total of 74 institutional investors made investments in the company, including GQG Partners, Morgan Stanley, Fidelity, FIAM Group, UBS Fund Management, The Master Trust Bank of Japan, and HDFC Mutual Fund.
The Rs 18,000-crore FPO is part of a broader plan to raise Rs 45,000 crore through debt and equity.
At 14.4 pm, shares of Vodafone Idea traded nearly 3.5 percent higher at Rs 13.40.
