Last Updated on: 24th April 2024, 05:22 pm
Vodafone idea ,an Indian telecom major is under a huge debt pressure of about 2.4 lac crore,has recently announced that it is going to raise 18000 crore through an FPO.
Details Of FPO
This FPO will open on 18thapril 2024 and will end on 22nd april2024. The floor price for the FPO is set at Rs.10 per equity share with a upper cap of Rs.11 per equity share.The minimum lot size is fixed at 1298 equity shares and in multiples.
The higher end of the price ,i.e Rs 11 is at a discount of Rs.2 per equity share.This may attract investor. Also the company will conduct road shows to instill cofidence among inestor.
The fund raise will help the company to lower its debt burden,and of course this will help in network expansion and investment in technology.
Outlook
As the proceeds will be used in technology upgradation there could be better user experience and this may help in increasing the user base and may see improvement in profitability.
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