Vodafone Idea (Vi), India’s third-largest telecom operator, secured Rs 5,400 crore from anchor investors like GQG Partners and Fidelity Investments in its follow-on public offering (FPO). Anchor investors, large institutional entities, commit to purchasing a substantial portion of shares upfront, boosting confidence and ensuring demand. Vi’s FPO aims to raise Rs 45,000 crore for network expansion and spectrum payments. The offering includes reserved quotas for various investor categories, with shares priced at Rs 10-11 each. Vi plans to deploy funds for 5G rollout and 4G expansion, aiming to catch up with competitors Bharti Airtel and Reliance Jio.
Vodafone Idea Raises Rs 5,400 Crore in Anchor Investment for Follow-On Public Offering
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