The telco is hitting the market with an ₹18,000 crore equity offering on Thursday the share sale will open on April 18 (for anchor investors on April 16) and close on April 22 to mobilise funds, which will help it in increasing its capex, launch 5G services and pare spectrum and adjusted gross revenue debt. The company needs funds to catch up with peers Bharti Airtel and Reliance Jio.
"The government is enthused that Vodafone will be roping in new investors through their upcoming ₹18,000 crore FPO and has a plan to revive the company that will help prevent a duopoly in the telecom sector, a key objective of the revival package for the company," Pandey said. "FPO can ensure that the company is able to carry out necessary capex for the continued delivery of quality service to its customers."
This story is from the April 17, 2024 edition of Financial Express Mumbai.
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This story is from the April 17, 2024 edition of Financial Express Mumbai.
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