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VIL’s FPO-Axis, Jefferies & SBI net combined Rs 287 crore
The recent Vodafone Idea follow-on public offer (FPO) provided relief to both the struggling telecom operator and the three investment banks managing the ₹18,000 crore share sale. Vodafone Idea paid ₹287 crore, equivalent to 1.6% of the issue size, as book running lead manager (BRLM) fees, making it the second-highest BRLM fee for a domestic FPO or IPO, according to PRIME Database.
The highest fee was paid by One 97 Communications (Paytm) after its ₹18,300-crore IPO in November 2021. Despite Paytm’s disappointing IPO performance, Vodafone Idea’s FPO proved profitable for the BRLMs, with the fee pool divided among only three investment banks: Axis Capital, Jefferies, and SBI Capital Markets.
CT Bureau
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