Vodafone Idea Ltd. FPO IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

The VI FPO, totaling Rs 18,000.00 crores, is a book-built issue consisting entirely of fresh shares amounting to 1636.36 crore. Commencing subscription on April 18, 2024, it will conclude on April 22, 2024, with allotment expected to be finalized by April 23, 2024.

The VI FPO is set to list on both the BSE and NSE, tentatively scheduled for Thursday, April 25, 2024. Its price band ranges from ₹10 to ₹11 per share, with a minimum lot size for applications set at 1298 shares.

Retail investors are required to invest a minimum of ₹14,278, while sNII and bNII have minimum lot size investments of 15 lots (19,470 shares) and 71 lots (92,158 shares), respectively, amounting to ₹214,170 and ₹1,013,738.

Axis Capital Limited, Jefferies India Private Limited, and SBI Capital Markets Limited are serving as the book running lead managers, with Link Intime India Private Ltd acting as the registrar for the issue.

Company proposes to utilize the Net Proceeds:

1. Purchase of equipment for the expansion of our network infrastructure by:

(a) setting up new 4G sites

(b) expanding the capacity of existing 4G Sites and new 4G sites

(c) setting up new 5G sites

2. Payment of certain deferred payments for spectrum to the DoT and the GST thereon

3. General corporate purposes.

Vodafone Idea Ltd. FPO IPO Details

IPO Date April 18, 2024 to April 22, 2024
Listing Date April 25, 2024
Face Value ₹10 per share
Price ₹10 to ₹11 per share
Lot Size 1298 Shares
Total Issue Size ₹18,000.00 Cr
Fresh Issue 16,363,636,363 shares (aggregating up to ₹18,000.00 Cr)
Offer for Sale Nil
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 50,119,820,375
Share holding post issue 66,483,456,738

Vodafone Idea Ltd. FPO IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1298 ₹₹14,278
Retail (Max) 14 18172 ₹₹199,892
S-HNI (Min) 15 19,470 ₹₹214,170
S-HNI (Max) 70 90,860 ₹₹999,460
B-HNI (Min) 71 92,158 ₹₹1,013,738

Vodafone Idea Ltd. FPO IPO Timeline (Tentative Schedule)

IPO Open Date Thursday, April 18, 2024
IPO Close Date Monday, April 22, 2024
Basis of Allotment Tuesday, April 23, 2024
Initiation of Refunds Wednesday, April 24, 2024
Credit of Shares to Demat Wednesday, April 24, 2024
Listing Date Thursday, April 25, 2024
Cut-off time for UPI mandate confirmation 5 PM on April 22, 2024

Vodafone Idea Ltd. FPO IPO Reservation

Investor Category Shares Offered Reservation %
Anchor Investor Shares Offered 4,909,090,908 (30.00%) NA
QIB Shares Offered 3,272,727,273 (20.00%) NA
NII (HNI) Shares Offered 2,454,545,454 (15.00%)
bNII > ₹10L 1,636,363,636 (10.00%) 84,045
sNII < ₹10L 818,181,818 (5.00%) 42,022
Retail Shares Offered 5,727,272,727 (35.00%) 4,412,382
Total Shares Offered 16,363,636,362 (100%)

Vodafone Idea Ltd. FPO IPO Promoter Holding

Share Holding Pre Issue 48.75%
Share Holding Post Issue 36.87%

Vodafone Idea Ltd. FPO IPO Subscription Status

Investor Category Shares Offered Shares Bid For No oF Times Subscribed

About Vodafone Idea Ltd. FPO Limited

3rd largest telecommunications service provider in India ( as per subscriber base). According to the GSMA Intelligence Database, the company is 6th largest cellular operator globally in terms of number of subscribers in a single country of operations. Through pan India network, they offer voice, data, enterprise and other value-added services (“VAS”), including short messaging services and digital services across 2G, 3G and 4G technologies.

The company offers connectivity services to enterprise customers holding active licenses for national long distance (“NLD”), international long distance (“ILD”) and internet service provider (“ISP”), and registration for infrastructure provider (“IP-1”) services.

For the quarter ended December 31, 2023, applicable gross revenue (“ApGR”) market share was 17.79% of the Indian mobile telecommunications services industry & had over 223.0 million subscribers and a subscriber market share of 19.3%. The company carried approximately 401 billion voice minutes and approximately 6,004 billion MB of data on network.

Promoters are part of the Aditya Birla group and the Vodafone group: Aditya Birla group is one of the largest business groups in India and a leading global conglomerate. Having a presence in 40 countries across diverse sectors such as cement, metals and mining, mobile telecommunications, fashion retail, financial services, textiles, carbon black, trading, chemicals, renewables, paints, real estate and jewellery retail.

Vodafone group is the largest pan-European and African telecommunications company. Group provides mobile and fixed services to over 300 million customers in 17 countries and has collaborations with mobile networks in 45 other countries. The Vodafone group also has one of the world’s largest Internet of Things (“IoT”) platforms.

Vodafone Idea Ltd. FPO Limited Financial Information (Restated Consolidated)

Amount in (Rs. Crore)

Period Ended
Reserve of Surplus
Total Assets
Total Borrowings
Fixed Assets
Cash
Net Borrowing
Revenue
EBITDA
PAT
EPS

Key Performance Indicator

KPI Values
EPS Pre IPO (Rs.)
EPS Post IPO (Rs.)
P/E Pre IPO
P/E Post IPO
ROE
ROCE
P/BV
Debt/Equity
RoNW

Vodafone Idea Ltd. FPO Limited IPO Peer Comparison

Company Name EPS ROCE ROE P/E (x) P/Bv Debt/Equity RoNW (%)
Vodafone Idea Ltd -6.16 -3.82% - - - - -3.82%
Bharti Airtel Ltd 15 12.3% 12% 65.7 9.15 2.81 12.3%
Bharti Hexacom Ltd 22 10.3% 13.4% 91.9 - 2.19 10.3%
Reliance Jio Infocomm Ltd - - - - - - -
Vodafone Idea Ltd. FPO Limited Contact Details

VODAFONE IDEA LIMITED

Suman Tower, Plot No. 18, Sector 11, Gandhinagar 382 011, Gujarat, India

E- mail: shs@vodafoneidea.com

Tel: +91 98246 34997

Website: www.myvi.in

Vodafone Idea Ltd. FPO IPO Registrar and Lead Manager(s)

Link Intime India Private Limited

C 101, 1st Floor, 247 Park L.B.S Marg, Vikhroli (West) Mumbai 400 083 Maharashtra, India

Tel: +91 810 811 4949

E-mail: vil.fpo@linkintime.co.in

Website: www.linkintime.co.in

Vodafone Idea Ltd. FPO IPO Review

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