Tremendous FPO coming with Vodafone Idea
[ad_1]
Vodafone Idea FPO: Market leading telecom company Vodafone Idea Limited has announced to launch Follow on Public Offer (FPO) for investors in the market. The board of directors of the company has approved to launch an FPO worth Rs 18,000 crore. Retail investors will be able to bid for this FPO from April 18 to April 22. Whereas, the company will organize a special session on April 16 for anchor investors to bid. Vodafone Idea Limited has fixed the price band for FPO at Rs 10 to Rs 11.
What are the details of FPO?
Vodafone Idea Limited FPO is a main-board FPO of 16,363,636,363 equity shares of face value of Rs 10 each. Axis Capital Ltd, Jefferies India Pvt Ltd and SBI Capital Markets Ltd are the book running lead managers of the FPO, while Link Intime India Pvt Ltd is the registrar to the issue. The funds raised from the FPO will be used by the company to purchase equipment to expand network infrastructure, set up new 4G sites, expand the capacity of existing 4G sites and new 4G sites and set up new 5G sites. Also, with the money, the company will pay some deferred payment for spectrum and GST on it to the Department of Telecommunications.
Also Read: This company will give more leave to the employees rearing animals, know why the organization took such a step.
How much will have to be invested
Retail investors will have to invest in at least one lot. There are 1298 shares in one lot. This means that the investor will have to spend at least Rs 14,278. Whereas, the minimum lot size investment for SNII is 15 lots. This means that he will be allotted 19,470 shares. For this he will have to invest Rs 214,170. BNII category investors will have to invest at least Rs 1,013,738 for at least 92,158 shares.
When will the shares be listed?
The listing of the company’s stock is likely to happen on the National Stock Exchange and Bombay Stock Exchange on 25 April 2024.
What is FPO?
FPO i.e. Follow on Public Offer is the re-issue of shares by a company listed in any stock market to its investors. Through this the company collects extra funds from the market.
What is the difference between IPO and FPO
Initial Public Offering (IPO) is issued by those companies which are not listed on any board of the exchange. Along with raising money through IPO, the company also gets listed on the board.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
[ad_2]
Source link
