Vodafone Idea managed to secure Rs 5,400 crore from 74 anchor investors on Wednesday. Among these investors were the likes of GQG Partners, The Master Trust Bank of Japan, UBS, and others.
The issue is entirely a fresh issue of 1,636.36 crore shares with subscription closing on Monday, April 22. Allotment is expected to be finalised on Tuesday, April 23.Â
The price range for the FPO is fixed between Rs 10 to Rs 11 per share. The minimum lot size to apply is 1298 shares.
A report from Swastika Investmart Ltd cautions potential investors about the challenges facing Vodafone Idea.
It said that the company has been witnessing a consistent decline in its user base, unlike its competitors.
"A potential financial crunch looms in 2026 when significant spectrum and AGR (Adjusted Gross Revenue) dues of up to $4 billion become payable. Despite the attractive 15-17% discount offered through the FPO, VI's path to a near-term revival seems uncertain. Therefore, investors should carefully consider these factors, particularly VI's financial health and future liabilities, before participating in the FPO," said Swastika Investmart Ltd. Read more:
