As per the media reports, Vodafone Idea is looking to raise around Rs 20,000 crore via Follow-on Public Offer (FPO) out of which the company is considering issuance of equity or convertible securities of Rs 2,075 crore on a preferential basis to one or more promoter group entities. The company is expected to infuse capital to finance its 5G rollout and to strengthen its 4G services.
What is an FPO?
In an Initial Public Offering (IPO), a company offers its shares to the public for the first time. However, when an already listed company offers its shares to the public, the issue is called a Follow-on Public Offer (FPO).
What does Vodafone Idea Limited do?
Incorporated in 1995 as Birla Communications Limited, Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership-based mobile network operating company and is India’s 3rd largest telecom service provider. The Company provides pan India voice and data services across 2G, 3G and 4G, LTE Advanced, VoLTE, and VoWiFi.
How do I apply to the Vodafone Idea IPO?
You can apply for the Sula Vodafone Idea IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
Where do I check the allotment status for Vodafone Idea IPO?
You can check the allotment status for the Vodafone Idea IPO on the website of the Registrar and Transfer agent.
Alternatively, you can also check the allotment status on the NSE website.