Telecom News: Vi Launches FPO Worth Rs 18,000 Cr, Check Details

Telecom News: Telecom company Vodafone Idea has announced the FPO, i.e. Follow-on Public Offering that started on 18 April and will conclude on 22 April. Vodafone Idea FPO will raise Rs 18,000 Cr, with a price band of Rs 10 to Rs 11, in which investors will have to bid for at least 1 lot of 1,298 shares. This means, investors will have to bid for at least Rs 14,278 to apply for the FPO. 

What is FPO?

FPO is a process in which the listed company implements new shares to current shareholders or promoters in general so that the company can raise money. In February, Vodafone Idea has already announced the plan to raise Rs 45,000 Cr through equity and debt, and the company raised Rs 20,000 crores from equity through the board. Apart from this, the company has also raised Rs 2,075 Cr through preference shares from a promoter related to Aditya Birla Group.