Wed, Apr 17, 2024
Vodafone Idea FPO: The price band for the offer is Rs 10–11 per share. The higher end of the price band (Rs 11) is at a discount of about 26 per cent compared to the recently approved preferential issue price to the promoter entity at Rs 14.87.
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Vodafone Idea raised Rs 5,400 crore from 74 anchor investors including GQG Partners, Fidelity, and Motilal Oswal. This comes ahead of India's largest follow-on public offering (FPO) by Vodafone Idea, aiming to raise Rs 18,000 crore. Funds will be used for network expansion (4G and 5G) and spectrum payment deferral.
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