The investors include GQG Partners, Fidelity Investments, UBS Fund Management, Jupiter Fund Management, and Australian Super, besides Indian investors such as India Infoline, Motilal Oswal, HDFC Mutual Fund, SBI General Insurance and Quant.

The telecom company allocated 491 crore shares to anchor investors at Rs 11 per share.

The book running lead managers to the FPO are Axis Capital, Jefferies India and SBI Capital Markets.

On 12 April 2024, Vodafone Idea informed that its board had approved to raise Rs 18,000 crore through follow on public offer (FPO) with price band of Rs 10 – 11 per equity share.

The FPO is slated to open on Thursday 18 April 2024 and close on Monday, 22 April 2024. Anchor investors will be allowed to participate two days prior to the bid/issue opening date, i.e. Tuesday, 16 April 2024.

The company’s FPO consists with a minimum bid lot of 1,298 equity shares and in the multiples of 1,298 equity shares thereafter.

Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service provider. The company provides pan India voice and data services across 2G, 3G and 4G platforms. The company holds large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles.

The telecom service provider reported a consolidated net loss of Rs 6,985.9 crore in Q3 FY24 as compared with a net loss of Rs 7,990 crore in Q3 FY3. Revenue from operations increased marginally to Rs 10,673.1 crore in Q3 FY24 as against Rs 10,620.6 crore posted in Q3 FY23.

Shares of Vodafone Idea declined 1.82% to end at Rs 12.92 on Tuesday, 16 April 2023. The domestic market is shut today on account of Shri Ram Navami.