Vodafone Idea has announced a Further public offering (FPO) to raise additional capital. The VI FPO will open from 18 April 2024. People who wish to invest in Vodafone Idea can read the article to get all the details of the upcoming VI FPO.
Vodafone Idea Limited FPO
The telecommunications service provider, Vodafone Idea issued more shares to investors through FPO. The Vodafone Idea FPO will be open for applications from 18 April 2024 to 22 April 2024.
The allotment of shares after the FPO will commence on 23 April 2024. The initiation of subscribed shares refunds that did not get allotted in the allotment of shares will begin on 24 April 2024.
Grill Splendour Services Limited IPO
The company will list the FPO-issued shares on the BSE National Stock Exchange on 25 April 2024. The credit of shares will commence on your Demat account on 25 April 2024. Investors can mark the following dates of the VI FPO event:
| Date | VI Limited FPO Events |
| 18 April 2024 | FPO Opens |
| 22 April 2024 | FPO closes |
| 23 April 2024 | Allotment of FPO |
| 24 April 2024 | Refund Initiation |
| 25 April 2024 | Listing Date |
| 22 April 2024 | UPI Mandate Confirmation |
Vodafone Idea Limited FPO Details
According to the announcement of Vodafone Idea Limited, the board of directors of the company has approved the FPO of 16,363,636,363 equity shares for the fresh issue. The company expects to raise ₹18,000 crore from the upcoming FPO issue.
The Capital Raising Committee has fixed the price band of the Vodafone Idea FPO issue at ₹10 to ₹11 per equity share with a face value of ₹10 per share.
The investors can bid for the VI FPO shares in a minimum lot size of 1298 shares, which can be multiplied thereof 1298 shares according to the slots.
The registrar of the VI Limited FPO decided in the pitch is Link Intime India Private Limited, and the book-running lead managers are Sbi Capital Markets Limited, Axis Capital Limited, and Jefferies India Private Limited.
The promoters of the Vodafone Idea Limited company hold 48.75% (60, 119,820, 375 shares) pre-issue which will be diluted to 36.87% (66, 483, 456,738) after the FPO issue.
| Company | Vodafone Idea Limited |
| FPO Type | Book Built Issue |
| FPO issue Size | 16,363,636,363 equity shares (matches up to ₹18,000 Crore) |
| Face Value | ₹10 per equity share |
| Price Band | ₹10 – ₹11 per equity share |
| Lot Size | 1298 |
| Fresh Issue | 16,363,636,363 equity shares (matches up to ₹18,000 Crore) |
| Listing at | BSE NSE |
The company attempts to make up for its loss and expand its service to 5G by setting up new 5G sites through the upcoming FPO.
Vodafone Idea FPO Reservation and Lot Size
The company has announced the reserve shares offered for the different categories of investors in the following distribution:
| Investor Category | Shares Offered |
| Qualified Institutional Buyers | Not more than 50% of the issue |
| Retail | Not less than 35% of the issue |
| Non-Institutional Investors (HNI) | Not less than 15% of the issue |
The investors can bid for the VI FPO in a minimum lot size of 1298 shares and multiples thereof with slots. The retail investors can bid for the FPO with a minimum investment of ₹14,278 in one slot. The following table depicts lot shares and the amount associated with them:
| Investor Category | Lots | Shares | Amount |
| Retail (min.) | 1 | 1298 | ₹14,278 |
| Retail (max.) | 14 | 18172 | ₹199,892 |
| S-HNI (min.) | 15 | 19470 | ₹214170 |
| S-HNI (max.) | 70 | 90860 | ₹999,460 |
| B-HNI (min.) | 71 | 92158 | ₹1,013,738 |
Vodafone Idea Limited Financial Statement
Vodafone Idea Limited is one of the most financially stressed telecommunications companies in the country. The company has issued the following financial statement as of 31 December 2023:
| KPIs | 31 Dec 2023 | 31 March 2023 |
| Revenue | 32,125.60 | 207,242.70 |
| Net Worth | -97,931.90 | -74359.10 |
| PAT | -23563.80 | -29301.10 |
| Assets | 190 801.80 | 207,242.70 |
| Total Borrowing | 203, 425.70 | 201,586.00 |
| Reserves and Surplus | -146611.60 | -123038.80 |
The VI Limited capital shares will increase with the upcoming FPO, but there is the possibility that this can lead to an overhang in the VI Limited shares prices after the IPO.
Nevertheless, if the VI FPO is successful, it will become the biggest FPO in the Indian market. The investors can apply for the VI FPO from 18 April 2024, make sure you consider every factor before investing your money.
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