Vodafone Idea announces price band for its FPO of Rs 18,000 crores

The Board of Directors of Vodafone Idea Ltd. at its meeting held on April 11, 2024 had passed a resolution for approving, adopting, and filing of the red herring prospectus dated April 11 with the Registrar of Companies, Gujarat at Ahmedabad, in connection with the further public offering of equity shares, aggregating up to Rs 18,000 crore, according to an exchange filing.

The Capital Raising Committee in its meeting held today i.e. April 12, 2024 approved the price band for the FPO issuance. The higher end of the price band i.e. Rs. 11 is at a discount of ~26% compared to the recently approved preferential issue price to the promoter entity at Rs. 14.87 and a discount of ~15% compared to the last closing price of Rs. 12.95.

Resolutions have been passed for

• April 16, 2024:Approving the Anchor Investor Bid/Offer Period
• April 18, 2024: Approving the Bid/Offer Opening Date
• April 22, 2024:Approving the Bid/Offer Closing Date to be 22 April 2024.

CT Bureau