New Delhi: Telecom operator Vodafone Idea (VIL) board has fixed the FPO offer price at Rs 11 per equity share, according to a regulatory filing.
The anchor investor's offer price of Rs 11 per equity share has also been approved by the board.
"...the following resolutions were also passed...the discount price of Rs 11 per equity share was determined and approved...the anchor investor offer price of Rs 11 per equity share was approved," VIL said.
Debt-laden telecom operator Vodafone Idea Ltd has raised Rs 18,000 crore in India's biggest-ever follow-on public offering (FPO) as the issue was bought by institutional investors at around seven per cent, stock exchange data showed on Monday evening. Guna has been subscribed.
The fundraise will significantly help VIL to improve its competitive position in the Indian telecom market, where it lags behind Reliance Jio and Bharti Airtel by a wide margin.
“In our letter dated April 17, 2024, informing you about the meeting of the Board of Directors of the Company to be held on April 22, 2024 in connection with the proposal, we would like to inform you that the Board in its meeting has decided,” VIL said. Today the Prospectus dated 22 April 2024 in respect of the Offer has been approved and adopted.
It said the prospectus has been filed with the Registrar of Companies, Gujarat and Ahmedabad and submitted to the Securities and Exchange Board of India, BS Ltd and National Stock Exchange of India Ltd.
The anchor investor's offer price of Rs 11 per equity share has also been approved by the board.
"...the following resolutions were also passed...the discount price of Rs 11 per equity share was determined and approved...the anchor investor offer price of Rs 11 per equity share was approved," VIL said.
Debt-laden telecom operator Vodafone Idea Ltd has raised Rs 18,000 crore in India's biggest-ever follow-on public offering (FPO) as the issue was bought by institutional investors at around seven per cent, stock exchange data showed on Monday evening. Guna has been subscribed.
The fundraise will significantly help VIL to improve its competitive position in the Indian telecom market, where it lags behind Reliance Jio and Bharti Airtel by a wide margin.
“In our letter dated April 17, 2024, informing you about the meeting of the Board of Directors of the Company to be held on April 22, 2024 in connection with the proposal, we would like to inform you that the Board in its meeting has decided,” VIL said. Today the Prospectus dated 22 April 2024 in respect of the Offer has been approved and adopted.
It said the prospectus has been filed with the Registrar of Companies, Gujarat and Ahmedabad and submitted to the Securities and Exchange Board of India, BS Ltd and National Stock Exchange of India Ltd.
