Vodafone Idea FPO to open tomorrow. Should you bid? Here's what GMP, experts say about the ₹18,000-crore issue
₹10 to ₹11 apiece. There is a minimum bid limit of 1,298 equity shares, and beyond that, bids may be placed in multiples of 1,298 equity shares.
All market experts appear bullish about the FPO issue. The Vodafone Idea FPO total offer size comprises of fresh issue of equity shares aggregating up to ₹18,000 crore.
According to the red herring prospectus (RHP), the net proceeds from the new issue will be used by the company to finance the following: (i) acquisition of equipment for the expansion of its network infrastructure, amounting to ₹12,750 crore; this includes (a) the establishment of new 4G sites; (b) the augmentation of capacity at both existing and new 4G sites; and (c) the establishment of new 5G sites; (ii) payment of certain deferred payments for spectrum to the DoT and the GST thereon, amounting to ₹2,175 crore; and (v) the remaining amount for general corporate purposes. Also Read: Vodafone Idea FPO: 10 key things to know about ₹18,000-crore issue as anchor book opens today "Exciting news! Mint is now on WhatsApp Channels
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