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

The upper end of the price band is at 14.93% discount to Wednesday’s Rs 12.93 closing price of the stock on BSE.

The company has filed the red herring prospectus (RHP) dated 11 April 2024 with the Registrar of Companies, Gujarat at Ahmedabad, in connection with the further public offering of equity shares, aggregating up to Rs 18,000 crore.

The company shall be participating in road shows and interacting with investors / analysts that would be held in various cities across India from week starting from 15 April 2024 upto the bid closing date.

Recently, the company has raised Rs 2,075 crore through the preferential issue to Oriana Investments Pte, which belongs to Aditya Birla Group entity forming part of the promoter group.

Earlier in February 2024, the cash strapped company said that its board has approved raising of funds via equity mode for an aggregate amount of up to Rs 20,000 crore, subject to shareholder and other necessary approvals.

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.

The scrip declined 4.64% to Rs 12.33 on the BSE.