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Vi-Mega FPO listing ceremony held
Shares allotted in the follow-on public offer of Vodafone Idea have been listed on the National Stock Exchange.
The opening price of Vodafone Idea FPO shares stood at Rs 11.80 per share on the NSE, marking a 7.27 percent increase from the issue price of Rs 11. Meanwhile, on the BSE, the opening price for Vodafone Idea FPO shares today was Rs 12 each, reflecting a 9 percent rise from the issue price.
In his address during the listing event at the National Stock Exchange, Kumar Mangalam Birla, Group Chairman, Aditya Birla Group termed the fund-raising effort a turning point in the telecom sector. He said, “This moment in some ways, marks the beginning of Vodafone Idea 2.0. I believe that a revitalized Vodafone Idea is important for India.”
He further added:
The successful conclusion of India’s largest FPO of ₹18,000 crores marks one such turning point for the telecom industry. The fact that so many marquee investors participated in this equity issuance is a testament to the government’s vision of a digital India. The emphatic oversubscription of the FPO–with the overall book being subscribed 7 times and the institutional book being subscribed 19 times—demonstrates the tremendous potential of the India digital story and Vodafone Idea’s role in it.
Aditya Birla Group has remained committed to this sector for over two and a half decades now. Along with our partner, Vodafone Group, we have cumulatively invested around ₹170,000 crore in the Indian telecom industry. Before this FPO, in the last five years, out of Rs 30,000 crore raised by the company, more than 75 percent has come from the two promoter groups. The latest fundraiser has also seen an investment of over Rs 2,000 crore from the Aditya Birla Group. This continued commitment stems from our belief in the promise of India’s digital story, and Vodafone Idea’s role in it.
The proceeds from this fundraiser are earmarked for a significant capital expenditure cycle. This growth CapEx will pave the way for a network and technological upgrade across key markets. This, in turn, will enhance operational efficiencies and lead to better performance. The cycle of investment will trigger the cycle of growth. On the back of this fundraiser and continued support from banks, Vodafone Idea will stage a smart turnaround. This moment, in some ways, marks the beginning of Vodafone Idea 2.0. I believe that a revitalized Vodafone Idea is important for India.
The robust engagement from both foreign and domestic investors is heartening. Notably, the full subscription of the retail portion is truly commendable, given the sheer scale of the offer. Vodafone Idea is a national asset with 215 million users, about 8000 MHz of spectrum, and a network that spans from Kashmir to Kanyakumari.
The policy environment today encourages investment, innovation, and competition. India’s digital economy is booming, and robust telecom networks are crucial to support this growth. A nation of 1.4 billion people deserves three private telecom players.
Today, as we stand on the cusp of a digital revolution, a rejuvenated Vi together with other telecom players, will meaningfully contribute to the exciting and sustainable growth journey ahead, he concluded.
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Vi FPO receives bids for 26%, 331.17cr shares of 1260cr
Vi FPO subscribed 49% with 617.46 cr shares, of 1260 cr shares
CT Bureau
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