Vodafone Concept FPO: Debt-ridden telecom firm Vodafone Concept has introduced its plans to supply shares price Rs 18,000 crore in a additional public providing (FPO) from April 18-22, with every share priced between Rs 10-11.
This resolution comes after a board assembly held by the corporate earlier as we speak. The value of Rs 11 per share represents a 26% low cost from the lately accredited preferential subject value to the promoter entity at Rs 14.87 and a 15% low cost from the final closing value of Rs.12.95, states an ET report.
The ground value for the FPO is about at Rs 10 per share, with a cap value of Rs 11. buyers want to use for a minimal bid lot of 1,298 shares and its multiples thereafter.
Bids for anchor buyers are scheduled to open on April 16, with a gathering of the Capital Elevating Committee deliberate for a similar day to allocate fairness shares to profitable anchor buyers. “A gathering of the Capital Elevating Committee is scheduled to be held on 16 April 2024 for the needs of allocation of Fairness Shares to the profitable Anchor Buyers pursuant to the Supply and for dedication of the Anchor Investor Allocation Worth,” Vodafone Concept mentioned in a submitting.
In response to the announcement, Vodafone shares skilled a 3% decline, reaching a low of Rs 12.51.
Over the previous 12 months, the inventory has greater than doubled in worth. The corporate lately accredited a preferential share subject to lift Rs 2,075 crore from an Aditya Birla Group (ABG) entity, setting the stage for a broader funding program essential to its monetary restoration.
Within the March quarter, Vi is predicted to report a lack of 4.5 million subscribers, with a forecasted addition of 1 million 4G subscribers. Income is more likely to marginally decline by 0.8% quarter-on-quarter, with a projected improve in ARPU by 1.1% to Rs 147.
Emkay analysts predict a flattish margin development, with a slight improve to 40.9% as a result of decrease advertising bills.
This resolution comes after a board assembly held by the corporate earlier as we speak. The value of Rs 11 per share represents a 26% low cost from the lately accredited preferential subject value to the promoter entity at Rs 14.87 and a 15% low cost from the final closing value of Rs.12.95, states an ET report.
The ground value for the FPO is about at Rs 10 per share, with a cap value of Rs 11. buyers want to use for a minimal bid lot of 1,298 shares and its multiples thereafter.
Bids for anchor buyers are scheduled to open on April 16, with a gathering of the Capital Elevating Committee deliberate for a similar day to allocate fairness shares to profitable anchor buyers. “A gathering of the Capital Elevating Committee is scheduled to be held on 16 April 2024 for the needs of allocation of Fairness Shares to the profitable Anchor Buyers pursuant to the Supply and for dedication of the Anchor Investor Allocation Worth,” Vodafone Concept mentioned in a submitting.
In response to the announcement, Vodafone shares skilled a 3% decline, reaching a low of Rs 12.51.
Over the previous 12 months, the inventory has greater than doubled in worth. The corporate lately accredited a preferential share subject to lift Rs 2,075 crore from an Aditya Birla Group (ABG) entity, setting the stage for a broader funding program essential to its monetary restoration.
Within the March quarter, Vi is predicted to report a lack of 4.5 million subscribers, with a forecasted addition of 1 million 4G subscribers. Income is more likely to marginally decline by 0.8% quarter-on-quarter, with a projected improve in ARPU by 1.1% to Rs 147.
Emkay analysts predict a flattish margin development, with a slight improve to 40.9% as a result of decrease advertising bills.
