Vodafone Idea mentioned its board has accepted a Follow-on Public Offering (FPO) of fairness shares of up to ₹18,000 crore. Image used for consultant function solely.
| Photo Credit: Reuters
Telecom operator Vodafone Idea on April 12 mentioned its board has accepted a Follow-on Public Offering (FPO) of fairness shares of up to ₹18,000 crore.
The follow-on provide will open on April 18 and shut on April 22.
The ground worth for the mega provide has been set at ₹10 and the cap at ₹11 per fairness share.
“The Board of Directors of the company, at its meeting held on April 11, 2024 approved Further Public Offering (FPO) of equity shares, aggregating up to ₹18,000 crore. The capital raising committee in its meeting held today that is April 12, 2024 approved the price band for the FPO issuance,” the corporate mentioned in a BSE submitting.
The higher-end of the value band (₹11) is at a reduction of about 26% in contrast to not too long ago accepted preferential difficulty worth to the promoter entity at ₹14.87 and a reduction of about 15% in contrast to final closing worth of ₹12.95.
