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New Plan To Invest 400 Million Dollar For This Indian Company; Share Only Rs 12

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Vodafone Idea Ltd (NSE: IDEA): Telecom company Vodafone Idea Limited’s FPO worth Rs 18,000 crore is opening this week. Meanwhile, there is news that Rajiv Jain’s company GQG Partners can invest about 400 million dollars in it. 

According to the information, GQG will make bids for at least $300 million and up to $400 million of equity through the joint venture between Vodafone Group Plc and Aditya Birla Group.

FPO Will Open From 18th April

According to a statement issued by the company, the FPO of the company will open on Thursday, April 18, and will close on Monday, April 22. This encapsulates a fresh offering of equity shares that are up to 18,000 crores in total offer size.

The price band for the offer is fixed between Rs 10 and Rs 11 for each equity share. Bids are accepted for the minimum of 1298 equity shares, and with multiples of 1298 equity shares after that. 

The anchor investor bid date will be Tuesday, April 16. Let us tell you that today the shares of Voda Idea closed at Rs 12.90.

The Focus Is On Reducing Debt

The company proposes to use the net proceeds from the fresh issue of equity shares to fund these operations including the purchase of equipment worth Rs 12,750 crore to expand its network infrastructure, including setting up new 4G sites. 

The capacity expansion of 4G existing sites as well as new 4G sites as well as the establishment of new 5G sites.

Also, certain delayed installments towards the Department of Telecommunications for spectrum and GST correspond to 2175 crore, and the remaining amount is to be used for general corporate reasons.

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