Money-strapped Vodafone Thought’s board on Friday permitted a decision for a public providing of its fairness shares value Rs 18,000 crore. An organization submitting mentioned that the follow-on public supply (FPO) will open on April 18, Thursday and shut on April 22, Monday. The anchor investor bid will open on April 16.
On Thursday, the telecom operator handed a decision for approving, adopting and submitting of the pink herring prospectus dated (the RHP) with the Gujarat Registrar of Firms (RoC) in reference to the additional public providing of fairness shares.
The FPO is claimed to be priced at a “important low cost” to the Rs 14.87 a share that was set for the preferential situation to one of many promoters, The Financial Instances had reported quoting an individual accustomed to the matter earlier within the week. Learn right here
Brokerage CLSA mentioned final month it has noticed eager curiosity from overseas institutional buyers within the UK in Vi’s equity-raise plan.
“The debt funding of round Rs 25,000 crore will comply with shortly after the FPO closes,” the individual mentioned.
Vodafone Thought shares ended at Rs 12.93 on the BSE on Wednesday, up by 0.15% over the Tuesday closing worth. Markets have been shut on Thursday on account of Eid-Ul-Fitr (Ramzan Id).
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After hitting a low of Rs 6 in April final 12 months, the inventory has made regular positive aspects to its 52-week excessive of Rs 18.40. Its one-year returns stand at 108%.
The board of the loss-making telco has already permitted a preferential share situation to lift Rs 2,075 crore from an Aditya Birla Group (ABG) entity, which set the stage for a wider funding programme important to the revival of the cash-strapped telco.
(Disclaimer: Suggestions, recommendations, views and opinions given by the specialists are their very own. These don’t characterize the views of Financial Instances)
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