Vodafone Idea’s ₹18,000-crore follow-on public offer (FPO) will open for subscription on April 18 at a floor price of ₹10 a share with the cap at ₹11. The offer will close on April 22 and anchor bids will be approved on April 16, the company said in an exchange filing. The company has enlisted Jefferies, SBI Caps and Axis Capital as lead managers for the FPO which is set to be the largest offerings of its kind in India. The company recently raised ₹2,075 crore through the issue of preferential shares to one of its promoter entities – Oriana Investments Pte Ltd.
Investors can bid for a minimum bid lot of 1,298 equity shares. This means that the minimum application amount, based on the upper end of the price band is ₹14,278 for one lot of shares in the FPO. Thereafter, investors can then bid in multiples of 1,298 equity shares.
The largest FPO before this was a 150 billion rupee share sale by Yes Bank in 2020.
