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Vodafone Idea to launch FPO, aims to raise Rs 18,000-20,000 cr

April 11, 2024

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The Business Guardian

Vodafone Vodafone Idea (Vi) is gearing up to introduce a follow-on public offer (FPO) aiming to raise Rs 18,000-20,000 crore by the middle of next week.

The telecom company burdened with debt has appointed Jefferies, SBI Caps, and Axis Capital as lead managers for the FPO, which is anticipated to become one of the largest offerings in India. Nonetheless, sources have mentioned that none of the banks will be underwriting the issue.

Yes Bank's Rs 15,000 crore FPO stands as the largest share sale in the Indian market to date.

Adani Enterprises' Rs 20,000 crore FPO in January 2023 would have topped the charts, but the Gautam Adani flagship company decided to call off the offer following allegations of several governance lapses at the Adani Group in a report by Hindenburg Research.

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Gautam Adani calls for India's civilisational strength to guide its future

Adani Group Chairman Gautam Adani on Friday said that India’s civilisation-al strength lies in its ability to learn, rebuild and move forward, describing the country’s progress as a reflection of its enduring identity.

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'One of the elements is going to be technology, innovation': Goyal

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Australia welcomes Reliance move to supply Australia with Russian-free oil

Australian High Commissioner to India Philip Green on Friday welcomed Reliance Industries’ decision to supply to Australia oil that is free of Russian crude.

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‘SEBI not considering any new digital gold framework’

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DELHI LG CALLS FOR INCREASED VIGILANCE FOLLOWING RED FORT BLAST

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ANANDIBEN PATEL: A LIFE ILLUMINATED BY NURTURE AND VALUES

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Gautam Adani announces Rs 100 cr contribution to indology mission

At the inaugural Adani Global Indology Conclave, Adani Group Chairman Gautam Adani announced a landmark commitment to building the Bharat Knowledge Graph -- a first-of-its-kind digital framework designed to preserve, structure and future-proof India’s civilisational knowledge in the age of Artificial Intelligence.

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HC refuses plea for lawyer-accused meeting at NIA during remand

The Sessions Judge, with instructions to adjudicate it on Saturday.

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CAG auditing reforms by states to improve ease of doing biz for MSMEs

The Comptroller and Auditor General of India has initiated an audit of reforms implemented by states and UTs to improve the ease of doing business for the micro, small and medium enterprise (MSME) sector.

time to read

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