Vodafone Idea FPO to open today. Should you bid? What GMP indicates

Vodafone Idea FPO: The date of subscription for the follow-on public offering (FPO) of Vodafone Idea is scheduled for April 18. The FPO will close on April 22 and has a price band in the range of ₹10 to ₹11 apiece. In the FPO, there is a minimum bid limit of 1,298 equity shares after which bids can be placed in multiples of 1,298 equity shares. 

Vodafone Idea FPO is scheduled to open on April 18. The FPO will close on April 22 and has a price band in the range of ₹10 to ₹11 apiece. (Reuters)

Vodafone Idea FPO details: The FPO total offer size comprises of fresh issue of equity shares aggregating up to ₹18,000 crore.

HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!

Read more: Microsoft employee’s job terminated after 33 years; makes stunning statement of intent

Vodafone Idea FPO objectives: Net proceeds from the issue will be used by the company for acquisition of equipment for the expansion of its network infrastructure, establishment of new 4G sites, augmentation of capacity, establishment of new 5G sites, payment of certain deferred payments and general corporate purposes.

Vodafone Idea FPO details: Foreign institutional investors like GQG Partners, Fidelity, HDFC Mutual Fund, Motilal Oswal Mutual Fund and Quant Mutual Fund, are among investors looking to participate in the mega FPO, it was earlier reported. 

Read more: Sold sovereign gold bonds at market highs? Calculate your taxes in this way

Vodafone Idea Financials: The government stake in Vodafone idea is 32.19% based on the shareholding pattern for the quarter that ended in March (Q4FY24), As of December 31, 2023, Vodafone Idea’s total debt was ₹2.15 lakh crore and the company reported a net loss of ₹6,985.9 crore for the December quarter. Revenue for the same period was ₹10,673.1 crore, up 0.49 percent from the previous fiscal. 

Read more: Toshiba to cut 5,000 jobs. Why are layoffs now a trend even in Japan?

Vodafone Idea FPO GMP: The grey market premium is ₹1.50  which means that the expected listing price for Vodafone Idea FPO is ₹12.5- gain of around 13.64%, as per investorgain.com.

• ABOUT THE AUTHOR

  

  Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.