Vi 5G rollout by December, to set aside Rs 5,720 crore from FPO

MUMBAI: Vodafone Idea, which is in the middle of launching the largest follow-on-public offer (FPO) later this week, is hopeful of rolling out the much-delayed 5G services over the next six to nine months in select circles.

If sailed through, given the third-largest telco’s poor track record in fundraising since the merger, the Rs 18,000-crore FPO issue, for which it has fixed the price-band at Rs 10-11 (about 15% discount), will be the largest FPO in the history of the domestic capital markets. The previous record was the Rs 15,000-crore issuance from the troubled private sector lender Yes Bank in July 2020.