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Vodafone Idea expects full subscription to ₹18,000-crore FPO

Livemint

Livemint · 1y ago

Vodafone Idea expects full subscription to ₹18,000-crore FPO

Vodafone Idea is expecting strong subscription for its ₹18,000-crore follow-on public offer (FPO), with anchor investors fully subscribing to the shares. The telecom carrier has begun its roadshow for individual investors and is confident of good interest from retail and high-net-worth investors. Vodafone Idea plans to roll out 5G services in six to nine months following the FPO and will expedite equipment orders with vendors. The company remains the only private firm in India without 5G services and is focused on prioritising 17 circles that account for 98% of its revenue.

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Vodafone Idea to launch Rs 18,000-20,000-crore FPO next week

Money Control

Money Control · 1y ago

Vodafone Idea to launch Rs 18,000-20,000-crore FPO next week

Vodafone Idea is looking to raise Rs 18,000-20,000 crore through a follow-on public offer (FPO) next week. The company has secured commitments from anchor investors and the government of India, its largest shareholder, is also supportive of the fundraise. Vodafone Idea has been struggling with a significant debt burden and operational losses in the highly competitive telecom sector. The proceeds from the FPO are expected to provide much-needed liquidity and support to the company.

Vodafone Idea could launch FPO in 1-2 weeks, talking to investors for fund raise: Report

Money Control

Money Control · 1y ago

Vodafone Idea could launch FPO in 1-2 weeks, talking to investors for fund raise: Report

Telecom company Vodafone Idea is reportedly planning to raise Rs 15-20,000 crore through a follow-on public offering (FPO), according to sources. The FPO is aimed at financing the delayed rollout of 5G and strengthening its 4G services. Vodafone Idea had already obtained board approval for the fundraising in February. The company's ability to secure funding is crucial for its market position and to boost average revenue per user (ARPU). The shareholders have also approved a fund raise of Rs 20,000 crore, which could benefit telecom gear vendors Nokia and Ericsson.

Vodafone Idea's ₹20,000-crore FPO likely next week

Livemint

Livemint · 1y ago

Vodafone Idea's ₹20,000-crore FPO likely next week

Indian telecom company Vodafone Idea is planning to raise ₹20,000 crore ($2.7 billion) through a follow-on public offer (FPO), with a price band likely to be decided by early next week. The FPO is expected to be followed by a larger debt raise from banks. This fundraising initiative is crucial for Vodafone Idea, as it aims to address its financial challenges, including a large debt burden and outstanding dues to vendors. The company's board of directors is expected to meet soon to consider issuing equity to promoter group entities.

Vodafone Idea gets bids worth $10.6 bn in country's largest ever follow-on public offering

VCCircle

VCCircle · 1y ago

Vodafone Idea gets bids worth $10.6 bn in country's largest ever follow-on public offering

Indian telecom operator Vodafone Idea has received bids worth $10.57 billion from investors in its follow-on public offering (FPO), making it the country's largest-ever FPO. The company aims to raise $2.16 billion through the FPO, with investors bidding for 6.36 times the shares on offer. This is seen as a positive response from investors, and if the funds are reinvested into the business, it could provide a much-needed boost to Vodafone Idea as it looks to expand its network services and compete with larger rivals Bharti Airtel and Reliance Jio.

Indus Towers working with Vodafone Idea to recover dues; expects to benefit from telco's improving financial situation: Prachur Sah, MD

Money Control

Money Control · 1y ago

Indus Towers working with Vodafone Idea to recover dues; expects to benefit from telco's improving financial situation: Prachur Sah, MD

Indus Towers expects to benefit from Vodafone Idea's successful follow-on public offer (FPO) and improving financial situation. The telecom infrastructure company is confident it will quickly recover its backlog of past dues as Vodafone Idea kickstarts its 4G expansion and 5G rollout. Indus Towers is engaged with the customer to define the process of clearing the dues and expects tenancies to increase as the network expansion activities progress. The positive development around Vi's fundraising is expected to clear the past dues and provide growth opportunities for Indus Towers.

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Money Control

Money Control · 1y ago

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Indus Towers anticipates high capex intensity for this year as Bharti Airtel rapidly deploys towers and Vodafone Idea expands 4G and introduces 5G. Indus expects a fair share in Vodafone Idea's expansion, despite increased competition. The tower company also expects overdue recovery of up to INR 5,400 crore from Vodafone Idea. Additionally, Vodafone Idea is expected to roll out over 60,000 tenancies, offering lucrative opportunities for the Indian tower industry. Indus Towers has been in discussions with both Vodafone Idea and Bharti Airtel for network expansion and rollout with sharing benefits.

Vodafone Idea faces investor heat over losses, subscriber wipeout

Livemint

Livemint · 2m ago

Vodafone Idea faces investor heat over losses, subscriber wipeout

Retail investors criticized Vodafone Idea during an extraordinary general meeting over its dwindling subscriber base, declining stock price, and unclear future plans despite various funding efforts. Concerns were amplified due to the company's financial obligations nearing ₹18,000 crore annually starting March 2026 for AGR and spectrum dues. The absence of Aditya Birla Group chairman, Kumar Mangalam Birla, from the meeting further raised investor concerns, as Vodafone Idea struggles with financial health and shareholder confidence.

ATC to get 2.9% in Vodafone Idea, converts OCDs worth ₹1,440 cr to equity

Livemint

Livemint · 1y ago

ATC to get 2.9% in Vodafone Idea, converts OCDs worth ₹1,440 cr to equity

Vodafone Idea will allot equity shares worth ₹1,440 crore to ATC Telecom Infrastructure from optionally convertible debentures (OCDs). ATC will have a 2.9% shareholding after conversion. Vodafone Idea has significant dues to vendors and tower service providers, including ATC. The company is raising ₹45,000 crore, including a ₹20,000 crore equity-based fund raise, to clear its debts. Vodafone Idea aims to raise the remaining amount through debt financing. The company plans to launch 5G services and expects to generate 40% of its revenue from the 5G business in the next 24-30 months.

Voda Idea to seek to convert dues into equity after moratorium ends: JP Morgan

Livemint

Livemint · 1y ago

Voda Idea to seek to convert dues into equity after moratorium ends: JP Morgan

Vodafone Idea plans to ask the Indian government to convert the annual installment for spectrum payments due in FY26/FY27 into equity. The telecom company has recently raised ₹18,000 crore in a follow-on public offer and believes it will have enough cash to repay government dues starting in FY28. Vodafone Idea currently owes the government $24.5 billion for spectrum purchases and adjusted gross revenues. It proposes converting a portion of this debt into equity in order to ease its cash crunch. The government is already the largest shareholder in Vodafone Idea with a 24.27% stake, which could increase to 35% if the conversion is approved.

Residual funds from Voda's Indus Towers stake sale may go towards latter's dues

Livemint

Livemint · 1y ago

Residual funds from Voda's Indus Towers stake sale may go towards latter's dues

Indus Towers may receive residual funds from Vodafone's stake sale in the company. Indus has a secondary pledge on Vodafone's 21% stake, and if the sale goes through, Indus will receive the residual amount after Vodafone clears dues with primary pledgers, up to a maximum of ₹4,250 crore. Indus Towers has been collecting receivables from Vodafone Idea and is in discussions for a payment plan to clear outstanding dues. The tower provider expects to benefit from incremental tenancy business and plans to offer Vodafone Idea existing towers as second tenants.

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