Vodafone Idea to launch FPO next week, seeks to raise Rs 18,000-20,000 cr

Vodafone Idea (Vi) is preparing to launch a follow-on public offer (FPO) to raise Rs 18,000-20,000 crore by the middle of next week, reported Moneycontrol, citing sources.

The debt-laden telecom company has enlisted Jefferies, SBI Caps, and Axis Capital as lead managers for the FPO, which is set to be one of the largest offerings of its kind in India. However, sources said that none of the banks are underwriting the issue.

Yes Bank’s Rs 15,000 crore FPO stands as the largest share sale in the Indian market to date.