Telecom giant Vodafone Idea secures Rs 5,400 crore from anchor investors, including GQG Partners, ahead of its Follow-On Public Offering (FPO). With 74 schemes receiving allotments, the company’s FPO, India’s largest, is set to open for subscription on Thursday. The investment aims to bolster Vodafone Idea’s capacity expansion and spectrum payments, amidst stiff competition in the telecom sector. Despite challenges, the capital infusion is expected to enhance subscriber retention, though some analysts question its sufficiency given the company’s substantial losses and competitive landscape.
Vodafone Idea Raises Rs 5,400 Crore from Anchor Investors Ahead of FPO
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