Mumbai: Cash strapped Telecom service provider Vodafone Idea announces Further Public Offer of Rs. 18,000 crores.
“The Board of Directors of the Company, at its meeting held on April 11, 2024 approved Further Public Offering (FPO) of Equity Shares, aggregating up to Rs. 18,000 crore. The Capital Raising Committee in its meeting held today i.e. April 12, 2024 approved the price band for the FPO issuance” the company said in a regulatory filing.
The higher end of the price band i.e. Rs. 11 is at a discount of 26% compared to recently approved preferential issue price to the promoter entity at Rs. 14.87 and a discount of ~15% compared to last closing price of Rs. 12.95.