The Vodafone Thought board has permitted the adoption and submitting of the Crimson Herring Prospectus (RHP) for a similar with the Registrar of Corporations, Gujarat, the alternate submitting stated.

Vodafone Thought’s Rs 18,000-crore follow-on public provide (FPO) will open for subscription on April 18, the telecom stated on April 12. The ground worth for the difficulty has been mounted at Rs 10 a share, whereas the cap has been set at Rs 11.

The provide will shut on April 22. The anchor bids can be permitted on April 16, the corporate stated in an alternate submitting.

Moneycontrol reported on April 10 that Vodafone Thought was gearing as much as launch an FPO to lift Rs 18,000-20,000 crore. The debt-laden firm has enlisted Jefferies, SBI Caps and Axis Capital as lead managers for the FPO, the biggest choices of its type in India.

Buyers can bid for a minimal bid lot of 1,298 fairness shares. The minimal utility quantity, based mostly on the higher finish of the value band comes as much as Rs 14,278 for one lot of shares within the FPO. Buyers can then bid in multiples of 1,298 fairness shares thereafter.

The FPO comes after the corporate’s board on February 27 permitted elevating as much as Rs 20,000 crore by way of fairness.

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The corporate lately raised Rs 2,075 crore by way of the difficulty of preferential shares to one among its promoter entities – Oriana Investments Pte Ltd, which belongs to the Aditya Birla Group.

The shares have been issued at Rs 14.87 apiece, up 40 % from the FPO ground worth.

Aside from the Rs 20,000 crore fairness fund elevate, the telecom operator can be stated to be in talks with banks to tie up debt funding, taking the overall fund elevate to Rs 45,000 crore as a mix of fairness and debt.

In a current be aware, brokerage CLSA stated Vodafone Thought shares can fall to Rs 5 after it misplaced as 17 million subscribers over the previous 12 months.

Past its capex and 5G rollout, Vodafone Thought might face a monetary crunch in fiscal yr 2026 when annual spectrum and AGR funds value as much as $4 billion will fall due, until the federal government converts debt principal to fairness on the finish of the moratorium, it stated.

The brokerage maintained its “promote” score on the inventory.

Shares of Vodafone Thought have doubled during the last 12 months, although the inventory has corrected 30 % from its current peak.

For April 12 session, the inventory is within the F&O ban, which suggests no new positions may be created within the inventory.

Additionally Learn | Vodafone Thought to launch Rs 18,000-20,000-crore FPO subsequent week

At 9.35 am, shares of Vodafone Thought have been buying and selling 2 % decrease at Rs 12.65 on the Nationwide Inventory Trade.

Disclaimer: The views and funding suggestions expressed by funding consultants on Moneycontrol.com are their very own and never these of the web site or its administration. Moneycontrol.com advises customers to verify with licensed consultants earlier than taking any funding selections.

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