Vodafone Idea will launch a Follow-on Public Offer (FPO) of equity shares worth Rs 18,000 crore next week. According to the exchange filling,the FPO is scheduled to open on April 18 and close on April 22. The company also revealed that the anchor investor offers will be approved on April 16.
The telecom service provider has announced that it has set the price band for its Follow-on Public Offer (FPO) between Rs 10 to Rs 11 per share. The FPO is scheduled to open on April 18 and close on April 22, the company said in the exchange filling.
Investors have the opportunity to bid for a minimum bid lot of 1,298 equity shares. At the upper end of the price band, the minimum application amount totals Rs 14,278 for one lot of shares in the FPO. Subsequently, investors can bid in multiples of 1,298 equity shares thereafter.
The board has given its approval for the adoption and filing of the Red Herring Prospectus (RHP) for the FPO with the Registrar of Companies, Gujarat, as stated in the exchange filing.
Furthermore, the telecom service provider’s Capital Raising Committee is set to convene later on Friday to consider and approve the price band and discount for the FPO.
This FPO initiative by Vodafone Idea follows the approval by its board on February 27 to raise up to Rs 20,000 crore via equity. Recently, the company successfully raised Rs 2,075 crore through the issuance of preferential shares to Oriana Investments Pte Ltd., a promoter entity belonging to the Aditya Birla Group.
Besides the equity fundraise of Rs 20,000 crore, Vodafone Idea is reportedly in discussions with banks to secure debt funding, aiming for a total fund raise of Rs 45,000 crore through a combination of equity and debt.
CLSA on Vodafone Idea
In a note on Wednesday, brokerage firm CLSA expressed concerns about Vodafone Idea’s future, highlighting a potential decline in shares to as low as Rs 5.
The note cited a loss of 17 million subscribers over the past year and speculated about financial challenges in fiscal year 2026, particularly regarding annual spectrum and AGR payments totaling up to $4 billion.
The brokerage firm maintained its “sell” rating on Vodafone Idea’s stock. Despite doubling over the last 12 months, shares of Vodafone Idea have corrected by 30% from their recent peak.