Vodafone Idea Seeks Funds Through Record FPO

  • Vodafone Idea, India's third-largest telecom operator, will raise ₹18,000 crore ($2.16 billion) through a follow-on public offer (FPO).
  • This is the biggest FPO in India in a year, surpassing the previous record of ₹15,000 crore by Yes Bank in 2020.
  • The public offering will open for bids between April 18th and 22nd, with a floor price of ₹10 per share.
  • The funds will be used to expand 4G coverage and launch 5G services within 6-7 months of securing the funds.
  • Vodafone Idea aims to compete with rivals Bharti Airtel and Reliance Jio, who already offer 5G services.

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