The Vodafone Concept FPO, which includes a contemporary subject totalling 16.36 billion shares, is meant to spice up the corporate’s monetary capabilities for deploying 5G know-how and addressing pending vendor dues.

“The FPO supplies a chance for buyers to extend their stake in Vodafone Concept, one of many main telecom gamers in India, permitting them to capitalise on the corporate’s potential for development and market,” mentioned Atul Parakh, CEO of Bigul.

The Vi FPO is scheduled to open for subscription on April 18, 2024, and shut on April 22. The allotment for the Vi FPO is predicted to be finalised on Tuesday, April 23, 2024. 

In the meantime, the corporate will record the FPO-issued shares on each Bombay Inventory Alternate (BSE) and Nationwide Inventory Alternate (NSE) on April 25, 2024. 

The value band for the Vi FPO is fastened at Rs 10 to Rs 11 per share, providing a 16.3 per cent low cost from Friday’s closing worth of Rs 13.15 per share.

As per the corporate filings, the minimal lot measurement for retail buyers is 1,298 shares, requiring a minimal funding of Rs 14,278 on the higher band.

For small non-institutional buyers (sNII), the minimal lot measurement funding is about at 15 tons, equal to 19,470 shares, totalling Rs 0.2 million. For large non-institutional buyers (bNII), the minimal lot measurement funding is 71 tons, equivalent to 92,158 shares, totalling Rs 1.13 million

Moreover, Axis Capital Restricted, Jefferies India Personal Restricted, and SBI Capital Markets Restricted are the appointed ebook working lead managers for the Vi FPO, with Hyperlink Intime India Personal Ltd serVing because the registrar for the problem.

Regardless of dealing with challenges akin to subscriber losses and debt burdens, Vodafone Concept’s FPO underscores its strategic dedication to rejuvenating its operations and strengthening its foothold within the dynamic telecom trade of India. “The FPO will assist Vodafone Concept increase much-needed capital to strengthen its steadiness sheet, put money into community infrastructure, and compete extra successfully in opposition to rivals. It could actually additionally enhance the corporate’s monetary flexibility and entry to capital markets,” Parakh added.

He additional mentioned that the market is more likely to react positively to the FPO, Viewing it as an indication of Vodafone Concept’s dedication to its turnaround technique. Nonetheless, the success of the providing will rely on the corporate’s capability to execute its plans and ship on its development targets.

As of 12:02 pm, shares of the corporate have been buying and selling 1.54 per cent greater at Rs 13.16 per share.

First Printed: Apr 15 2024 | 12:43 PM IST