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Vodafone Idea Ltd IPO
Vodafone Idea Limited (Formerly known as Idea Cellular Limited) is the third largest wireless operator by subscribers in India with a Revenue Market Share of approximately 18.7% of the Indian mobile telecommunications services industry for quarter ended December 2022. The Company, a partnership between two strong promoters Aditya Birla Group India and Vodafone Group UK, is a major telecommunications provider in India, offering voice, data, enterprise services and other Value Added Services (VAS), including Short Messaging Services, Digital Services, IoT etc. As of March 31, 2023, the subscriber base of the Company stands at 236.8 million (on VLR), with the subscriber market share on VLR stands at 20.7%
The Company is an Aditya Birla Group Company, which offers basic voice and short message service (SMS) services to high-end value added and general packet radio service (GPRS) services, such as Blackberry, Datacard, Mobile TV and Games. The Company is a pan-India integrated wireless broadband operator offering 2G, 3G and 4G services, and has its own National Long Distance (NLD) and International Long Distance (ILD) operations, and Internet Service Provider (ISP) license. The Company offers affordable and world-class mobile services to varied segments of mobile users. It has a large spectrum holding comprising 8,005.2 MHz spectrum across 22 Service Areas, of which 7,975.2 MHz is liberalised spectrum which can be used towards deployment of any technology.
Vodafone Idea Limited was incorporated on March 14, 1995 with the name Birla Communications Limited. The Company obtained licenses for providing GSM-based services in the Gujarat and Maharashtra Circles following the original GSM license bidding process. In the year 1996, the company changed the name from Birla Communication Ltd to Birla AT&T Communications Ltd following joint venture between Grasim Industries and AT&T Corporation. In the year 1997, they commenced operations in the Gujarat and Maharashtra Circles.
In the year 2000, the company merged with Tata Cellular Ltd, thereby acquired original license for the Andhra Pradesh Circle. In the year 2001, they acquired the RPG Cellular Ltd and consequently, they acquired the license for the Madhya Pradesh (including Chattisgarh) Circle. Also, they obtained the license for providing GSM-based services in the Delhi Circle following the fourth operator GSM license bidding process. The name of the company was changed from Birla Communications Ltd to Birla Tata AT&T Ltd.
In the year 2002, the name of the company was further changed to Idea Cellular Ltd and also, they launched the 'Idea' brand name. They commenced commercial operation in Delhi circle. In June 3, 2002, they acquired Swinder Singh Satara & Company Ltd through a share purchase agreement. In the year 2004, the company acquired Escotel Mobile Communications Ltd (subsequently renamed as Idea Mobile Communications Limited). They commercially launched EDGE services 2005 and became the first operator in India to do so.
In the year 2005, the company won an Award for the 'Bill Flash' service at GSM Association Awards in Barcelona, Spain. They sponsored the International Indian Film Academy Awards. In the year 2006, the company became a part of the Aditya Birla Group subsequent to the TATA Group transferring their entire shareholding in the company to the Aditya Birla Group. They received Letter of Intent from the DoT for a new UAS License for the Mumbai Circle. Also, they received Letter of Intent from the DoT for a new UAS License for the Bihar Circle through Aditya Birla Telecom Ltd.
During the year 2006-07, the company commenced National Long Distance service to carry part of the Company's own traffic. They launched commercial mobile services in the service areas of Rajasthan, Uttar Pradesh (East) and Himachal Pradesh. They made Initial Public Offering and raised Rs 25,000 million. They won an award for the 'CARE' service in the 'Best Billing or Customer Care Solution' at the GSM Association Awards in Barcelona, Spain.
During the year, the company entered into a ten years business transformation pact to integrate, innovate, and transform its business processes and IT infrastructure with International Business Machines (IBM). They signed USD 500 million contract with Nokia Siemens Networks to expand and strengthen the Company's network. Also, they singed a USD 343 million contract for GSM expansion with Ericsson in the Maharashtra, Gujarat, Rajasthan, Madhya Pradesh and Himachal Pradesh service areas.
In June 2006, Escorts Telecommunications Ltd became the subsidiary of the company and subsequently was renamed as Idea Telecommunications Ltd. In February 2007, they acquired 10,000,000 equity shares of Rs.10 each of Aditya Birla Telecom Ltd, a company holding License to operate in the telecom service area of Bihar, for a purchase consideration of Rs 100 million.
During the year 2007-08, the company expanded their network from 4432 cities and towns to 13308 cities and towns. They formed three new subsidiaries namely, Idea Cellular Services Ltd, Idea Cellular Infrastructure Services Ltd and Idea Cellular Tower Infrastructure Ltd. The main purpose of Idea Cellular Services Ltd is to provide manpower services to Idea Cellular and Idea Cellular Infrastructure Services Ltd & Idea Cellular Tower Infrastructure Ltd are meant for hiving off Idea's passive infrastructure network.
In December 2007, the company in association with Bharti Airtel and Vodafone Essar formed a joint venture, namely Indus Tower to provide passive infrastructure services in India to all operators on a non discretionary basis. In February 2008, the company received the Unified Access Services Licences for the telecom service areas of Punjab, Karnataka, Tamilnadu including Chennai, North East, West Bengal, Kolkatta, Jammu & Kashmir, Orissa and Assam.
During the year 2008-09, the company acquired 40.8% stake in Spice Communications Ltd (Spice), having operations in Punjab and Karnataka service areas, from MCorp Global Communications Pvt Ltd, the erstwhile promoters of Spice. They launched services in Mumbai, Orissa, Tamil Nadu (including Chennai), Jammu & Kashmir, Kolkata and West Bengal. In addition, Aditya Birla Telecom Ltd, a wholly owned subsidiary, launched operations in Bihar (including Jharkhand) service area.
During the year, the company made a tie-up with Indian Oil Corporation, the largest petroleum company in India, to use their petrol pumps and gas agencies for branding and distribution of Idea SIM Cards and Recharge Vouchers. They were the first operator in India to launch Nokia Life Tools in association with Nokia. They launched 'International Airtime Transfer', a unique VAS service, whereby NRI community can directly recharge the prepaid mobiles of Idea subscribers in India through several international merchants and the web in Gulf, the USA and UK.
During the year, the company launched NetSetter Data Cards and Blackberry solutions to cater to their data-savvy consumer segments. As per the scheme of arrangement, the company de-merged their passive infrastructure assets in the service areas of Andhra Pradesh, Delhi, Gujarat, Uttar Pradesh (both East & West including Uttarakhand), Haryana, Kerala, Rajasthan and Mumbai to Idea Cellular Towers Infrastructure Ltd, a wholly owned subsidiary, with an appointed date of January 1, 2009.
During the year 2009-10, the company expanded their pan-India presence through service launches in Orissa, Tamil Nadu, Jammu & Kashmir, Kolkata, West Bengal, Assam and North East service areas, thereby making it a nationwide service provider. As one of Idea's new VAS activities, the company launched 'Buddy Recharge' - a unique peer-to-peer talk time transfer product. They also launched Oongli Cricket during the IPL season.
During the year, the company launched a standardized self care portal 'CARE' which gives information to the customer on products/tariffs and information of their account such as billed amount, last recharge, last calls, unbilled amount, etc. They were the first operator to launch 'Pre Tones', which is an innovative VAS service which allows the user to listen to the caller tones of his/her own choice while making an outgoing call instead of listening to the respondent's caller tone.
As per the scheme of arrangement, the company telecom operations of the Bihar service area along with certain assets and liabilities of Aditya Birla Telecom Ltd, a wholly owned subsidiary was de-merged and transferred to the company with effect from March 1, 2010. Spice Communications Ltd which had operations in the Punjab and Karnataka service areas, and licenses for National and International Long Distance operations was amalgamated with the company with effect from March 1, 2010. Also, Carlos Towers Ltd became a subsidiary company pursuant to the amalgamation of Spice Communications Ltd with the company.
In April 2010, the company received a License for providing pan India Internet Services (ISP License). In the 3G Spectrum auction, the company emerged as a winner in 11 Service Areas viz. Maharashtra, Gujarat, Andhra Pradesh, Kerala, Punjab, Haryana, Uttar Pradesh (E), Uttar Pradesh (W), Madhya Pradesh, Himachal Pradesh and Jammu & Kashmir, at a total cost of Rs 5,768.59 crore.
During the year under review, the company became a pan India operator following the roll out of services in the remaining service areas of Orissa, Tamilnadu (including Chennai), Jammu & Kashmir, West Bengal, Kolkata, North East and Assam.
In January 20, 2011, the Company launched mobile number portability (MNP), an invite to all Indian mobile customers to change their wireless operator, while retaining their mobile number. In March, 2011 Company launched 3G services in 9 out of these 11 service areas. The Company also entered into bilateral roaming arrangement for the service areas of Mumbai, Bihar, Karnataka, Delhi, Kolkata and Tamil Nadu (including Chennai), with leading quality operators, enabling it to offer 3G services in 15 service areas.
In 2012, Department of Telecom (DoT) has said that the proposal of Malaysia based Axiata group to raise 1 per cent stake in Idea cellular to 21 per cent would not create any fresh security threat for the country. The company bagged the prestigious World Communication Awards 2012 (WCA) under the Best Brand Campaign' category at the recently held awards ceremony in London. The company wins at the prestigious World Communication Awards 2012, second year consecutively. In 2013, the company Signs Unified License with the Department of Telecommunications -Idea Cellular introduces buffet plans for post-paid subscribers. In 2014, the company wins wins 900 MHz for Delhi, and 4G in 8 strategic markets.
In 2015, Microsoft has tied with Idea Cellular to launch operator billing on the Windows Store for Idea subscribers. The company has successfully retained the crucial 900 MHz spectrum and won 54 MHz of 900 MHz spectrum. Videocon Telecommunications sold its spectrum in Gujarat and UP (West) circles to the company at a valuation of Rs 3,310 crore during the year. The company launches world-class, high-speed 4G LTE services in all four Telecom service areas of South India. The company launches 4G in all 5 states of South India, Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana.
In 2016, Idea Cellular launched 4G services across key markets viz. Madhya Pradesh & Chhattisgarh, Punjab, Haryana, Orissa, North East Service Area and Himachal Pradesh. During the year, the company won spectrum in FDD technology on 1800 and 2100 bands, and in TDD technology on 2300 and 2500 bands to achieve pan-India wireless broadband footprint.
On 16 March 2016, Idea Cellular and Videocon Telecommunications Limited mutually agreed to terminate their earlier agreement regarding Transfer of Right to Use 1800 MHz Spectrum' in two service areas with immediate effect. Earlier, on 24 November 2015, the Board of Directors of Idea had empowered the company to enter into an acquisition agreement for right to use 1800 MHz spectrum of Videocon Telecommunications Limited (VTL) in the telecom service areas of Gujarat and U.P. (West) for an aggregate consideration of Rs 3310 crore (approx.), pursuant to the DoT Guidelines for Trading of Access Spectrum by Access Service Providers dated 12 October 2015.
The Board of Directors of Idea Cellular at its meeting held on 28 April 2016 decided to consolidate the company's business of providing tower infrastructure services through approximately 7,997 telecom towers that it owns and operates across India (Tower Infrastructure Undertaking) with its wholly owned subsidiary, Idea Cellular Infrastructure Services Limited (ICISL) which is engaged in the business of providing tower infrastructure services in Bihar and Orissa. To implement this transaction, a business transfer agreement will be executed between Idea Cellular and ICISL. ICISL will issue approximately 10,000 equity shares to Idea Cellular in consideration for the tower infrastructure undertaking. The transfer of the tower infrastructure undertaking to ICISL is expected to be completed within 3 to 6 months subject to obtaining requisite regulatory approvals.
On 30 January, 2017, Idea Cellular announced the launch of 3 new exciting entertainment apps - Idea Music Lounge, Idea Movie Club, and Idea Game Spark. The new suite of integrated Digital Apps present one of the best range of entertainment content for its nearly 200 million customers. With the launch of Idea Music Lounge, Idea Movie Club and Idea Game Spark, the company has begun its transformation from a pure play mobile operator to an integrated digital services and solutions provider.
On 20 March 2017, Idea Cellular and Vodafone Group Plc announced that they have reached an agreement to combine their operations in India (excluding Vodafone's 42% stake in Indus Towers) to create India's largest telecom operator. The combined company would become the leading communications provider in India with almost 400 million customers, 35% customer market share and 41% revenue market share. The brand strategy of the combined company will be developed in due course and will leverage customers' affinity for both existing brands, built up over the past decade. The name of the combined listed company will be changed in due course.
The combined company will have sufficient spectrum to compete effectively with the other major operators in the market. It would hold 1,850 MHz, including circa 1,645 MHz of liberalised spectrum acquired through auctions. It will be capable of building substantial mobile data capacity, utilising the largest broadband spectrum portfolio with 34 3G carriers and 129 4G carriers across the country. Vodafone India's strong presence in metro circles and Idea's leadership in semi-urban and rural telecom markets will allow for nationwide leadership within Indian M&A guidelines. In circles where both Idea and Vodafone India currently have a limited presence, the combined entity will become the leading challenger with the scale to compete more effectively and enhance consumer choice.
On 25 May 2017, Idea Cellular announced that it has completed pan-India 4G rollout with the launch of 4G services in Mumbai on 2100 MHz spectrum band.
On 24 July, 2017, Idea Cellular announced that the Competition Commission of India has approved the proposed merger of Vodafone India, Vodafone Mobile Services Limited, and Idea Cellular under sub section (1) of section 31 of the Act. The transaction is expected to close during calendar year 2018 subject to customary approvals.
On 14 September 2017, Idea Cellular announced that it has achieved a major milestone in its network growth journey. The company has rapidly expanded network to 260,000 sites across the country with 50% sites dedicated to mobile broadband services, establishing it as India's Big 4G network'. Idea added nearly 50,000 broadband sites over the last 12 months period ending August 2017, growing its broadband footprint to cover 5,888 Census towns and nearly 105,755 villages, reaching out to 45% population of the country. It has set up an optical fibre network of approximately 150,000 route kms to strengthen its wireless broadband services.
On 13 November 2017, Idea Cellular and Vodafone India announced that they have separately agreed to sell their respective standalone telecom tower businesses in India to ATC Telecom Infrastructure Private Limited, a majority owned subsidiary of American Tower Corporation, for an aggregate enterprise value of Rs 7850 crore (USD 1.2 billion). The standalone telecom tower businesses of Idea Cellular and Vodafone India are pan-India passive telecommunication infrastructure businesses, comprising a combined portfolio of approximately 20,000 towers with a combined tenancy ratio of 1.65x as at 30 June 2017.
On 12 January 2018, Idea Cellular announced that the National Company Law Tribunal Bench at Ahmedabad vide its order dated 11 January 2018 has sanctioned the Composite Scheme of Amalgamation and Arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular and their respective shareholders and creditors. On 12 February 2018, Idea Cellular completed the allotment of 32.66 crore equity shares to the promoter Aditya Birla Group entities at an issue price of Rs 99.50 per share aggregating to Rs 3250 crore. As a result of this preferential allotment, the aggregate shareholding of the promoter group in Idea has increased from 42.4% to 47.2%.
On 23 February 2018, Idea Cellular announced the successful closure of its qualified institutions placement. The company issued and allotted approximately 42.42 crore equity shares of face value of Rs 10 each to qualified institutional buyers at an issue price of Rs 82.50 per equity share, aggregating to approximately Rs 3500 crore. This equity raise of Rs 3500 crore along with recent infusion of Rs 3250 crore by Idea's promoter/promoter group will reduce Idea's net-debt by approximately Rs 6750 crore.
As of March 31, 2020, Company has over 436,000 broadband (3G+4G) sites and all of the 4G sites are VoLTE enabled.
As of March 31, 2020, subscriber base of the Company stands at 293.7 million (on VLR) with subscriber market share at 29.7%.
As of March 31, 2021, the subscriber base of Company stands at 255.7 million (on VLR). s. As of March 31, 2021, it has 452,650 broadband (3G+4G) sites and all of the 4G sites are VoLTE enabled.
The Company has 267.8 million subscribers as of March 31, 2021, of which 123.6 million were broadband subscribers.
During FY21, Company has been actively upgrading 3G network to 4G further boosting coverage and capacity. It added ~43,500 4G FDD sites primarily through refarming of 2G/3G spectrum at minimal capex.
During year 2021, the Company acquired 23.6 MHz of spectrum across 900 and 1800 MHz in 5 circles like Tamil Nadu, Karnataka, Uttar Pradesh (East), Uttar Pradesh (West), and West Bengal at an aggregate value of Rs. 19.93 billion.
As of March 31, 2022, Company has 455,264 broadband (3G+4G) sites and all of its 4G sites are VoLTE enabled. The Company has 243.8 Million subscribers as of March 31, 2022, of which 118.1 Million were 4G subscribers.
In 2022, Company commissioned a state-of-the-art Consumer & Marketing Analytics Platform - India's 1st Big Data AI/ML & Advanced Cloud Analytics Platform among Telcos, which gives the capability to compute and process at scale apart from the ability to access open source knowledge banks.
During year 2022, Company strengthened its market leadership with IoT portfolio and other emerging technology businesses. It launched Integrated IoT solutions for enterprises. With this industry first initiative, VIL became the only telecom company in India to offer a secure end-to-end IoT solution offering that comprises connectivity, hardware, network, application, analytics, security and support.
During FY 2022-23, the Company acquired 850 MHz of mid band 5G spectrum (3300 MHz) in its 17 priority circles and 5,350 MHz mmWave 5G (26 GHz) spectrum in 16 circles in 2023. It acquired 6,237 MHz of spectrum at an aggregate value of Rs 188 Billion. It strengthened the Pan-India 4G footprint by acquiring additional 4G spectrum across 1800 MHz, 2100 MHz and 2500 MHz bands in 3 circles of Andhra Pradesh, Karnataka and Punjab.
As of March 31, 2023, Company has 443,537 broadband sites and all of the 4G sites are VoLTE enabled.
The Board of Directors of the Company on February 7, 2023, accordingly issued 16,133,184,899 equity shares of face value of Rs 10/- each at an issue price of Rs 10/- per equity share. Consequent to the aforesaid allotment, the Government of India held 33.1% of the equity capital on the Company and the promoter shareholding (i.e. Vodafone Group and Aditya Birla Group) stood at 50.4%.
During 2023, Vodafone Idea launched India's 1st Big Data AI/ML Cloud Advanced Analytics Platform over AWS Cloud enabling smarter and faster marketing interventions & plan recommendation generated by Data Science & AI/ML based predictive & prescriptive models especially for UL Recruitment, UL Renewals, Churn Reduction and Digital Adoption/ Engagement.
The Company is an Aditya Birla Group Company, which offers basic voice and short message service (SMS) services to high-end value added and general packet radio service (GPRS) services, such as Blackberry, Datacard, Mobile TV and Games. The Company is a pan-India integrated wireless broadband operator offering 2G, 3G and 4G services, and has its own National Long Distance (NLD) and International Long Distance (ILD) operations, and Internet Service Provider (ISP) license. The Company offers affordable and world-class mobile services to varied segments of mobile users. It has a large spectrum holding comprising 8,005.2 MHz spectrum across 22 Service Areas, of which 7,975.2 MHz is liberalised spectrum which can be used towards deployment of any technology.
Vodafone Idea Limited was incorporated on March 14, 1995 with the name Birla Communications Limited. The Company obtained licenses for providing GSM-based services in the Gujarat and Maharashtra Circles following the original GSM license bidding process. In the year 1996, the company changed the name from Birla Communication Ltd to Birla AT&T Communications Ltd following joint venture between Grasim Industries and AT&T Corporation. In the year 1997, they commenced operations in the Gujarat and Maharashtra Circles.
In the year 2000, the company merged with Tata Cellular Ltd, thereby acquired original license for the Andhra Pradesh Circle. In the year 2001, they acquired the RPG Cellular Ltd and consequently, they acquired the license for the Madhya Pradesh (including Chattisgarh) Circle. Also, they obtained the license for providing GSM-based services in the Delhi Circle following the fourth operator GSM license bidding process. The name of the company was changed from Birla Communications Ltd to Birla Tata AT&T Ltd.
In the year 2002, the name of the company was further changed to Idea Cellular Ltd and also, they launched the 'Idea' brand name. They commenced commercial operation in Delhi circle. In June 3, 2002, they acquired Swinder Singh Satara & Company Ltd through a share purchase agreement. In the year 2004, the company acquired Escotel Mobile Communications Ltd (subsequently renamed as Idea Mobile Communications Limited). They commercially launched EDGE services 2005 and became the first operator in India to do so.
In the year 2005, the company won an Award for the 'Bill Flash' service at GSM Association Awards in Barcelona, Spain. They sponsored the International Indian Film Academy Awards. In the year 2006, the company became a part of the Aditya Birla Group subsequent to the TATA Group transferring their entire shareholding in the company to the Aditya Birla Group. They received Letter of Intent from the DoT for a new UAS License for the Mumbai Circle. Also, they received Letter of Intent from the DoT for a new UAS License for the Bihar Circle through Aditya Birla Telecom Ltd.
During the year 2006-07, the company commenced National Long Distance service to carry part of the Company's own traffic. They launched commercial mobile services in the service areas of Rajasthan, Uttar Pradesh (East) and Himachal Pradesh. They made Initial Public Offering and raised Rs 25,000 million. They won an award for the 'CARE' service in the 'Best Billing or Customer Care Solution' at the GSM Association Awards in Barcelona, Spain.
During the year, the company entered into a ten years business transformation pact to integrate, innovate, and transform its business processes and IT infrastructure with International Business Machines (IBM). They signed USD 500 million contract with Nokia Siemens Networks to expand and strengthen the Company's network. Also, they singed a USD 343 million contract for GSM expansion with Ericsson in the Maharashtra, Gujarat, Rajasthan, Madhya Pradesh and Himachal Pradesh service areas.
In June 2006, Escorts Telecommunications Ltd became the subsidiary of the company and subsequently was renamed as Idea Telecommunications Ltd. In February 2007, they acquired 10,000,000 equity shares of Rs.10 each of Aditya Birla Telecom Ltd, a company holding License to operate in the telecom service area of Bihar, for a purchase consideration of Rs 100 million.
During the year 2007-08, the company expanded their network from 4432 cities and towns to 13308 cities and towns. They formed three new subsidiaries namely, Idea Cellular Services Ltd, Idea Cellular Infrastructure Services Ltd and Idea Cellular Tower Infrastructure Ltd. The main purpose of Idea Cellular Services Ltd is to provide manpower services to Idea Cellular and Idea Cellular Infrastructure Services Ltd & Idea Cellular Tower Infrastructure Ltd are meant for hiving off Idea's passive infrastructure network.
In December 2007, the company in association with Bharti Airtel and Vodafone Essar formed a joint venture, namely Indus Tower to provide passive infrastructure services in India to all operators on a non discretionary basis. In February 2008, the company received the Unified Access Services Licences for the telecom service areas of Punjab, Karnataka, Tamilnadu including Chennai, North East, West Bengal, Kolkatta, Jammu & Kashmir, Orissa and Assam.
During the year 2008-09, the company acquired 40.8% stake in Spice Communications Ltd (Spice), having operations in Punjab and Karnataka service areas, from MCorp Global Communications Pvt Ltd, the erstwhile promoters of Spice. They launched services in Mumbai, Orissa, Tamil Nadu (including Chennai), Jammu & Kashmir, Kolkata and West Bengal. In addition, Aditya Birla Telecom Ltd, a wholly owned subsidiary, launched operations in Bihar (including Jharkhand) service area.
During the year, the company made a tie-up with Indian Oil Corporation, the largest petroleum company in India, to use their petrol pumps and gas agencies for branding and distribution of Idea SIM Cards and Recharge Vouchers. They were the first operator in India to launch Nokia Life Tools in association with Nokia. They launched 'International Airtime Transfer', a unique VAS service, whereby NRI community can directly recharge the prepaid mobiles of Idea subscribers in India through several international merchants and the web in Gulf, the USA and UK.
During the year, the company launched NetSetter Data Cards and Blackberry solutions to cater to their data-savvy consumer segments. As per the scheme of arrangement, the company de-merged their passive infrastructure assets in the service areas of Andhra Pradesh, Delhi, Gujarat, Uttar Pradesh (both East & West including Uttarakhand), Haryana, Kerala, Rajasthan and Mumbai to Idea Cellular Towers Infrastructure Ltd, a wholly owned subsidiary, with an appointed date of January 1, 2009.
During the year 2009-10, the company expanded their pan-India presence through service launches in Orissa, Tamil Nadu, Jammu & Kashmir, Kolkata, West Bengal, Assam and North East service areas, thereby making it a nationwide service provider. As one of Idea's new VAS activities, the company launched 'Buddy Recharge' - a unique peer-to-peer talk time transfer product. They also launched Oongli Cricket during the IPL season.
During the year, the company launched a standardized self care portal 'CARE' which gives information to the customer on products/tariffs and information of their account such as billed amount, last recharge, last calls, unbilled amount, etc. They were the first operator to launch 'Pre Tones', which is an innovative VAS service which allows the user to listen to the caller tones of his/her own choice while making an outgoing call instead of listening to the respondent's caller tone.
As per the scheme of arrangement, the company telecom operations of the Bihar service area along with certain assets and liabilities of Aditya Birla Telecom Ltd, a wholly owned subsidiary was de-merged and transferred to the company with effect from March 1, 2010. Spice Communications Ltd which had operations in the Punjab and Karnataka service areas, and licenses for National and International Long Distance operations was amalgamated with the company with effect from March 1, 2010. Also, Carlos Towers Ltd became a subsidiary company pursuant to the amalgamation of Spice Communications Ltd with the company.
In April 2010, the company received a License for providing pan India Internet Services (ISP License). In the 3G Spectrum auction, the company emerged as a winner in 11 Service Areas viz. Maharashtra, Gujarat, Andhra Pradesh, Kerala, Punjab, Haryana, Uttar Pradesh (E), Uttar Pradesh (W), Madhya Pradesh, Himachal Pradesh and Jammu & Kashmir, at a total cost of Rs 5,768.59 crore.
During the year under review, the company became a pan India operator following the roll out of services in the remaining service areas of Orissa, Tamilnadu (including Chennai), Jammu & Kashmir, West Bengal, Kolkata, North East and Assam.
In January 20, 2011, the Company launched mobile number portability (MNP), an invite to all Indian mobile customers to change their wireless operator, while retaining their mobile number. In March, 2011 Company launched 3G services in 9 out of these 11 service areas. The Company also entered into bilateral roaming arrangement for the service areas of Mumbai, Bihar, Karnataka, Delhi, Kolkata and Tamil Nadu (including Chennai), with leading quality operators, enabling it to offer 3G services in 15 service areas.
In 2012, Department of Telecom (DoT) has said that the proposal of Malaysia based Axiata group to raise 1 per cent stake in Idea cellular to 21 per cent would not create any fresh security threat for the country. The company bagged the prestigious World Communication Awards 2012 (WCA) under the Best Brand Campaign' category at the recently held awards ceremony in London. The company wins at the prestigious World Communication Awards 2012, second year consecutively. In 2013, the company Signs Unified License with the Department of Telecommunications -Idea Cellular introduces buffet plans for post-paid subscribers. In 2014, the company wins wins 900 MHz for Delhi, and 4G in 8 strategic markets.
In 2015, Microsoft has tied with Idea Cellular to launch operator billing on the Windows Store for Idea subscribers. The company has successfully retained the crucial 900 MHz spectrum and won 54 MHz of 900 MHz spectrum. Videocon Telecommunications sold its spectrum in Gujarat and UP (West) circles to the company at a valuation of Rs 3,310 crore during the year. The company launches world-class, high-speed 4G LTE services in all four Telecom service areas of South India. The company launches 4G in all 5 states of South India, Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana.
In 2016, Idea Cellular launched 4G services across key markets viz. Madhya Pradesh & Chhattisgarh, Punjab, Haryana, Orissa, North East Service Area and Himachal Pradesh. During the year, the company won spectrum in FDD technology on 1800 and 2100 bands, and in TDD technology on 2300 and 2500 bands to achieve pan-India wireless broadband footprint.
On 16 March 2016, Idea Cellular and Videocon Telecommunications Limited mutually agreed to terminate their earlier agreement regarding Transfer of Right to Use 1800 MHz Spectrum' in two service areas with immediate effect. Earlier, on 24 November 2015, the Board of Directors of Idea had empowered the company to enter into an acquisition agreement for right to use 1800 MHz spectrum of Videocon Telecommunications Limited (VTL) in the telecom service areas of Gujarat and U.P. (West) for an aggregate consideration of Rs 3310 crore (approx.), pursuant to the DoT Guidelines for Trading of Access Spectrum by Access Service Providers dated 12 October 2015.
The Board of Directors of Idea Cellular at its meeting held on 28 April 2016 decided to consolidate the company's business of providing tower infrastructure services through approximately 7,997 telecom towers that it owns and operates across India (Tower Infrastructure Undertaking) with its wholly owned subsidiary, Idea Cellular Infrastructure Services Limited (ICISL) which is engaged in the business of providing tower infrastructure services in Bihar and Orissa. To implement this transaction, a business transfer agreement will be executed between Idea Cellular and ICISL. ICISL will issue approximately 10,000 equity shares to Idea Cellular in consideration for the tower infrastructure undertaking. The transfer of the tower infrastructure undertaking to ICISL is expected to be completed within 3 to 6 months subject to obtaining requisite regulatory approvals.
On 30 January, 2017, Idea Cellular announced the launch of 3 new exciting entertainment apps - Idea Music Lounge, Idea Movie Club, and Idea Game Spark. The new suite of integrated Digital Apps present one of the best range of entertainment content for its nearly 200 million customers. With the launch of Idea Music Lounge, Idea Movie Club and Idea Game Spark, the company has begun its transformation from a pure play mobile operator to an integrated digital services and solutions provider.
On 20 March 2017, Idea Cellular and Vodafone Group Plc announced that they have reached an agreement to combine their operations in India (excluding Vodafone's 42% stake in Indus Towers) to create India's largest telecom operator. The combined company would become the leading communications provider in India with almost 400 million customers, 35% customer market share and 41% revenue market share. The brand strategy of the combined company will be developed in due course and will leverage customers' affinity for both existing brands, built up over the past decade. The name of the combined listed company will be changed in due course.
The combined company will have sufficient spectrum to compete effectively with the other major operators in the market. It would hold 1,850 MHz, including circa 1,645 MHz of liberalised spectrum acquired through auctions. It will be capable of building substantial mobile data capacity, utilising the largest broadband spectrum portfolio with 34 3G carriers and 129 4G carriers across the country. Vodafone India's strong presence in metro circles and Idea's leadership in semi-urban and rural telecom markets will allow for nationwide leadership within Indian M&A guidelines. In circles where both Idea and Vodafone India currently have a limited presence, the combined entity will become the leading challenger with the scale to compete more effectively and enhance consumer choice.
On 25 May 2017, Idea Cellular announced that it has completed pan-India 4G rollout with the launch of 4G services in Mumbai on 2100 MHz spectrum band.
On 24 July, 2017, Idea Cellular announced that the Competition Commission of India has approved the proposed merger of Vodafone India, Vodafone Mobile Services Limited, and Idea Cellular under sub section (1) of section 31 of the Act. The transaction is expected to close during calendar year 2018 subject to customary approvals.
On 14 September 2017, Idea Cellular announced that it has achieved a major milestone in its network growth journey. The company has rapidly expanded network to 260,000 sites across the country with 50% sites dedicated to mobile broadband services, establishing it as India's Big 4G network'. Idea added nearly 50,000 broadband sites over the last 12 months period ending August 2017, growing its broadband footprint to cover 5,888 Census towns and nearly 105,755 villages, reaching out to 45% population of the country. It has set up an optical fibre network of approximately 150,000 route kms to strengthen its wireless broadband services.
On 13 November 2017, Idea Cellular and Vodafone India announced that they have separately agreed to sell their respective standalone telecom tower businesses in India to ATC Telecom Infrastructure Private Limited, a majority owned subsidiary of American Tower Corporation, for an aggregate enterprise value of Rs 7850 crore (USD 1.2 billion). The standalone telecom tower businesses of Idea Cellular and Vodafone India are pan-India passive telecommunication infrastructure businesses, comprising a combined portfolio of approximately 20,000 towers with a combined tenancy ratio of 1.65x as at 30 June 2017.
On 12 January 2018, Idea Cellular announced that the National Company Law Tribunal Bench at Ahmedabad vide its order dated 11 January 2018 has sanctioned the Composite Scheme of Amalgamation and Arrangement among Vodafone Mobile Services Limited and Vodafone India Limited and Idea Cellular and their respective shareholders and creditors. On 12 February 2018, Idea Cellular completed the allotment of 32.66 crore equity shares to the promoter Aditya Birla Group entities at an issue price of Rs 99.50 per share aggregating to Rs 3250 crore. As a result of this preferential allotment, the aggregate shareholding of the promoter group in Idea has increased from 42.4% to 47.2%.
On 23 February 2018, Idea Cellular announced the successful closure of its qualified institutions placement. The company issued and allotted approximately 42.42 crore equity shares of face value of Rs 10 each to qualified institutional buyers at an issue price of Rs 82.50 per equity share, aggregating to approximately Rs 3500 crore. This equity raise of Rs 3500 crore along with recent infusion of Rs 3250 crore by Idea's promoter/promoter group will reduce Idea's net-debt by approximately Rs 6750 crore.
As of March 31, 2020, Company has over 436,000 broadband (3G+4G) sites and all of the 4G sites are VoLTE enabled.
As of March 31, 2020, subscriber base of the Company stands at 293.7 million (on VLR) with subscriber market share at 29.7%.
As of March 31, 2021, the subscriber base of Company stands at 255.7 million (on VLR). s. As of March 31, 2021, it has 452,650 broadband (3G+4G) sites and all of the 4G sites are VoLTE enabled.
The Company has 267.8 million subscribers as of March 31, 2021, of which 123.6 million were broadband subscribers.
During FY21, Company has been actively upgrading 3G network to 4G further boosting coverage and capacity. It added ~43,500 4G FDD sites primarily through refarming of 2G/3G spectrum at minimal capex.
During year 2021, the Company acquired 23.6 MHz of spectrum across 900 and 1800 MHz in 5 circles like Tamil Nadu, Karnataka, Uttar Pradesh (East), Uttar Pradesh (West), and West Bengal at an aggregate value of Rs. 19.93 billion.
As of March 31, 2022, Company has 455,264 broadband (3G+4G) sites and all of its 4G sites are VoLTE enabled. The Company has 243.8 Million subscribers as of March 31, 2022, of which 118.1 Million were 4G subscribers.
In 2022, Company commissioned a state-of-the-art Consumer & Marketing Analytics Platform - India's 1st Big Data AI/ML & Advanced Cloud Analytics Platform among Telcos, which gives the capability to compute and process at scale apart from the ability to access open source knowledge banks.
During year 2022, Company strengthened its market leadership with IoT portfolio and other emerging technology businesses. It launched Integrated IoT solutions for enterprises. With this industry first initiative, VIL became the only telecom company in India to offer a secure end-to-end IoT solution offering that comprises connectivity, hardware, network, application, analytics, security and support.
During FY 2022-23, the Company acquired 850 MHz of mid band 5G spectrum (3300 MHz) in its 17 priority circles and 5,350 MHz mmWave 5G (26 GHz) spectrum in 16 circles in 2023. It acquired 6,237 MHz of spectrum at an aggregate value of Rs 188 Billion. It strengthened the Pan-India 4G footprint by acquiring additional 4G spectrum across 1800 MHz, 2100 MHz and 2500 MHz bands in 3 circles of Andhra Pradesh, Karnataka and Punjab.
As of March 31, 2023, Company has 443,537 broadband sites and all of the 4G sites are VoLTE enabled.
The Board of Directors of the Company on February 7, 2023, accordingly issued 16,133,184,899 equity shares of face value of Rs 10/- each at an issue price of Rs 10/- per equity share. Consequent to the aforesaid allotment, the Government of India held 33.1% of the equity capital on the Company and the promoter shareholding (i.e. Vodafone Group and Aditya Birla Group) stood at 50.4%.
During 2023, Vodafone Idea launched India's 1st Big Data AI/ML Cloud Advanced Analytics Platform over AWS Cloud enabling smarter and faster marketing interventions & plan recommendation generated by Data Science & AI/ML based predictive & prescriptive models especially for UL Recruitment, UL Renewals, Churn Reduction and Digital Adoption/ Engagement.
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Vodafone Idea Ltd IPO Timeline
Vodafone Idea Ltd IPO opens on 18-Apr-2024, and closes on 22-Apr-2024. The Vodafone Idea Ltd IPO bid date is from 18-Apr-2024 to 22-Apr-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Vodafone Idea Ltd IPO Opening Date | 18-Apr-2024 |
| Vodafone Idea Ltd IPO Closing Date | 22-Apr-2024 |
| Basis of Allotment | 23-Apr-2024 |
| Initiation of Refunds | 24-Apr-2024 |
| Credit of Shares to Demat | 24-Apr-2024 |
| Vodafone Idea Ltd IPO Listing Date | 25-Apr-2024 |
Vodafone Idea Ltd IPO Lot Size
Vodafone Idea Ltd IPO lot size is 1298 shares. A retail-individual investor can apply for up to 14 lots (18172 shares or 199892).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1298 | ₹14278 |
| Maximum | 14 | 18172 | ₹199892 |
Vodafone Idea Ltd IPO Details
| Vodafone Idea Ltd IPO Date | 18-Apr-2024 to 22-Apr-2024 |
| Vodafone Idea Ltd IPO Face Value | Shares of ₹10 per share |
| Vodafone Idea Ltd IPO Price | ₹10 to ₹11 per share |
| Vodafone Idea Ltd IPO Lot Size | 1298 |
| Issue Size | Shares of ₹10 (aggregating up to ₹18000 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹18000 Cr) |
| Offer for Sale | - |
| Issue Type | Book Built Portion |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 3600000001 |
| Retail Shares Offered | Not less than 6300000000 |
| NII (HNI) Shares Offered | Not less than 2700000000 |
| Company Promoters | Kumar Mangalam Birla, Hindalco Industries Ltd, Grasim Industries Ltd. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Purchase of equipment for the expansion of its network infrastructure by (a) setting up new 4G site,(b) expanding the capacity of existing 4G sites and new 4G sites and (c) setting up new 5G site
- 2 Payment of certain deferred payment for spectrum to the DoT and the GST theron
- 3 General corporate purposes
Company Financials
Vodafone Idea Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 185001.4 | 42382.5 | -31236.2 |
| 03-2023 | 207273.1 | 42187.8 | -29307.8 |
| 03-2022 | 193931.4 | 38318.2 | -28237.2 |
| Amount in ₹ Crore | |||
- Large subscriber base.
- Extensive telecommunication network.
- Existing network built on 5G-ready architecture.
- Large enterprise customer base with longstanding relationships.
- Extensive distribution and service network.
- Trusted brand with strong proposition.
- Strong promoter support.
- Experienced management team.
- The audit and review reports of the statutory auditors of the Company contain a paragraph on material uncertainty relating to going concern. There can be no assurance that any similar observations or remarks will not form part of the financial statements of the Company, or that such remarks will not affect its financial condition.
- If the company does not continue to provide telecommunications or related services that are technologically up to date or keep up with changing consumer preferences, its may not remain competitive, and the company's business, prospects, results of operations and cash flows may be adversely affected.
- The company requires significant capital to fund its capital expenditure and working capital requirements and if the company is unable to raise additional capital, its business, results of operations, financial condition and cash flows could be adversely affected.
- The Company has incurred significant indebtedness and has not complied with certain covenants under its financing agreements. Its inability to meet the company obligations, including financial and other covenants, under its debt financing arrangements could adversely affect its business, results of operations, financial condition and cash flows.
- Its telecommunication licenses and spectrum allocations are subject to terms and conditions, ongoing review and varying interpretations, each of which may result in modification, suspension, early termination, expiry on completion of the term or additional payments.
- Non-payment of large dues to its vendors, especially tower vendors and equipment suppliers, could have an adverse effect on its business and operations. As at December 31, 2023 and December 31, 2022 and as at March 31, 2023, March 31, 2022 and March 31, 2021, the company had trade payables aggregating to Rs.138,078 million, Rs.148,274 million, Rs.136,422 million, Rs.132,551 million and Rs.134,025 million, respectively, payables for capital expenditure aggregating to Rs.69,262 million, Rs.63,838 million, Rs.66,052 million, Rs.67,793 million and Rs.84,224 million, and lease liabilities aggregating to Rs.367,121 million, Rs.385,207 million, Rs.361,800 million, Rs.228,434 million and Rs.214,099 million, respectively.
- The company faces intense competition that may have an impact on its market share and profitability.
- There are outstanding legal proceedings involving the Company, and certain Subsidiaries, Promoters, Directors and Group Companies. Any adverse outcome in any of these proceedings may adversely affect its reputation, business, operations, financial condition and results of operations.
- Its Statutory Auditors have included certain qualifications or adverse remarks in the annexure to their Auditor's reports on the consolidated financial statements for the Financial Years 2023 and 2022 issued under the Companies (Auditor's Report) Order, 2020. If similar comments are included in the Statutory Auditors' reports or their annexures for its financial statements in the future, the trading price of the company Equity Shares may be adversely affected.
- Aditya Birla Idea Payments Bank Limited, a Group Company and Associate of the Company, is currently under liquidation. The company cannot assure you that such liquidation proceedings will be concluded in a timely manner. All disclosures pertaining to Aditya Birla Idea Payments Bank Limited in the Red Herring Prospectus are based on publicly available information only.
- Under the implementation agreement entered into among the Company and the promoters of Vodafone India, among others, at the time of the Merger, there is a mechanism for settlement of liabilities relating to tax, regulatory and certain specified miscellaneous matters which existed as of a specified date prior to completion of the Merger. Any inability to fulfil its obligations in respect of AGR dues by June 2025 could impact the company ability to receive payments from the Vodafone Group under such settlement mechanism provided in the Implementation Agreement.
- The company has incurred losses during recent periods and its may not achieve or sustain profitability in the future. During the nine months ended December 31, 2023 and December 31, 2022 and the Financial Years 2023, 2022 and 2021, its loss after tax was Rs.235,638 million, ?231,870 million, Rs.293,011 million, Rs.282,454 million and Rs.442,331 million, respectively.
- Any further downgrade in its credit ratings could increase the company borrowing costs, affect its ability to obtain financing, and adversely affect its business, results of operations and financial condition.
- The company has derived its revenues primarily from providing mobility services and the company has been dependent on the service areas of Maharashtra, Gujarat and Mumbai for a significant proportion of its revenues. As per the gross revenues reported in TRAI's financial data reports, the contribution of the service areas of Maharashtra, Gujarat and Mumbai for the nine months ended December 31, 2023 and December 31, 2022 and the Financial Years 2023, 2022 and 2021 was 29.3%, 28.5%, 28.6%, 27.8% and 27.0%, respectively.
- Churn in the mobile telecommunications industry in India is high and the company cannot assure you that its will be able to retain all the company existing subscribers or that the company will be successful in subscriber additions, which may have an adverse effect on its business and results of operations.
- The Supreme Court of India passed a judgment granting 10 years to the Company and other Telecom Service Providers for payment of the AGR dues in yearly instalments. Any inability of the Company to make timely payment of the AGR dues as per the directions of the Supreme Court of India, could adversely affect its business and results of operations and could impact its ability to remain competitive.
- The company is dependent on third party telecommunication providers and any deficiency in their services could adversely affect its business and results of operations.
- Its ability to grow the company's business and the company's number of subscribers is dependent on the quality and quantity of spectrum owned by it.
- The company is dependent on a limited number of vendors (including equipment manufacturers), and key suppliers to supply critical network and other equipment and services.
- The company intend to utilise a portion of the Net Proceeds for funding the purchase of certain equipment which is subject to cost escalation. The company is yet to place orders for purchase of such equipment and there can be no assurance that its will be able to place orders for such equipment and machinery, in a timely manner or at all.
- The company relies on sophisticated billing, credit control and customer verification systems, any failure of which could lead to a loss of income and subscribers.
- The company is dependent on the services of its Key Managerial Personnel and other members of the management team and its ability to recruit and retain employees. The loss of or its inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
- Its business depends on the delivery of an adequate and uninterrupted supply of electrical power and fuel at a reasonable cost.
- Its reputation may be adversely affected by any negative publicity or market perception regarding its operations, which may have an adverse effect on the company's business, results of its operations, cash flows and financial condition.
- The company has only limited protection for its intellectual property.
- A large part of its passive infrastructure is not owned by it and as a result the company cannot assure you that such passive infrastructure will be adequately maintained or that its strategy for the continued upgrade or rollout of the company network will be implemented in a timely manner or on a cost-effective basis.
- The company is exposed to certain risks in respect of the development, expansion and maintenance of its mobile telecommunications networks.
- If the company is unable to acquire new broadband subscribers or convert its existing subscribers to broadband subscribers, the company business, financial condition, results of operations and prospects may be adversely affected.
- Its reputation and business may be harmed and the company may be subject to legal claims and negative publicity if there is loss, disclosure or misappropriation of, or access to its subscribers' or its own information or other breaches of the company information security.
- The company is subject to extensive regulation and changes in laws, regulations, policies and the interpretation thereof. Failure to comply with existing or future laws, regulations or policies could have an adverse effect on its business, results of operation, financial condition and prospects.
- Environmental and health regulations may impose additional costs and may affect its business, financial condition and results of operations. Concerns about health risks associated with mobile telecommunications equipment may reduce the demand for its services.
- Its operations could be adversely affected by strikes, work stoppages or increased wage demands by the company's employees or any other kind of disputes with its employees.
- Its insurance coverage may not adequately protect the company against risks including operating hazards and natural disasters.
- The company enter into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with its shareholders.
- Its Promoters exercise significant control over the Company and will continue to do so after completion of the Offer. Further, the Government of India holds a significant stake in the Company. This may limit your ability to influence the outcome of matters submitted for approval of its Shareholders.
- Its Promoters, Directors and Key Managerial Personnel have interests in the company other than reimbursement of expenses incurred or normal remuneration or benefits.
- Its ability to pay dividends in the future will depends on the company earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of its financing arrangements.
- As of December 31, 2023, the company had contingent liabilities as per Ind AS 37, which when they materialize, could adversely affect its business, financial condition and results of operations.
- The company may be affected by competition laws, the adverse application or interpretation of which could adversely affect its business.
- Its funding requirements have not been appraised by a bank or a financial institution and if there are any delays or cost overruns, its business, cash flows, financial condition and results of operations may be adversely affected.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Its ability to raise foreign capital may be constrained by Indian law.
- Under Indian law, foreign investors are subject to investment restrictions that limit its ability to attract foreign investors, which may adversely affect the trading price of the Equity Shares.
- Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by it or conversion of outstanding dues owed to the Government of India may dilute your shareholding and adversely affect the trading price of the Equity Shares.
- Investors may be subject to Indian taxes arising out of capital gains on the sale of the Equity Shares.
- Significant differences exist between Ind AS and other accounting principles, such as Indian Generally Accepted Accounting Principles, U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards, which may be material to investors' assessments of its financial condition.
- Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the value of its Equity Shares, independent of the company operating results.
- Focused Investments to Drive Coverage and Capacity Expansion.
- Its Initiatives to Improve its Average Revenue Per User and Customer Retention.
- Focus on Business Services through Telco to Techco Transformation.
- Strategic Collaborations to Monetize Digital Opportunities.
Vodafone Idea Ltd IPO Promoter Holding
| Pre Issue Share Holding | 40.05% |
| Post Issue Share Holding | 30.23% |
Vodafone Idea Ltd IPO Subscription Status (Bidding Detail)
The Vodafone Idea Ltd IPO is subscribed 6.36 times on Apr 22, 2024 05:00:00 PM. The public issue subscribed 0.92 times in the retail category, 17.56 times in the QIB category, and 4.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | 17.56 | 4.13 | 0.92 | - | 6.36 |
Vodafone Idea Ltd IPO Prospectus
Vodafone Idea Ltd IPO Listing Date
| Listing Date | 25 Apr 24 |
| BSE Script | 532822 |
| NSE Symbol | IDEA |
| Listing In | BSE, NSE |
| ISIN | INE669E01016 |
| IPO Price | ₹11 |
| Face Value | ₹10 |
Vodafone Idea Ltd IPO Registrar
Link Intime India Pvt Ltd
Phone: +91 810 811 4949
Email: vil.fpo@linkintime.co.in
Website: www.linkintime.co.in
Vodafone Idea Ltd IPO Lead Manager(s)
- Axis Capital Ltd
- Jefferies India Pvt Ltd
- SBI Capital Markets Ltd
FAQs on Vodafone Idea Ltd IPO
Vodafone Idea Ltd IPO, which opens for subscription from 18-Apr-2024 to 22-Apr-2024 has an issue size of ₹18000 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Vodafone Idea Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Vodafone Idea Ltd IPO Opens for subscription from 18-Apr-2024 to 22-Apr-2024.
The lot size of Vodafone Idea Ltd is 1298 shares. Retail investors can subscribe to minimum 1 lot and maximum 14 lots. The minimum and maximum application value is ₹14278 and ₹199892 respectively.
Allotment date for Vodafone Idea Ltd is 23-Apr-2024 and refund of application amount (in case allotment is not received) will begin from 24-Apr-2024. If your allotment goes through, then shares will be credited in your Demat account by 24-Apr-2024.
The registrar for Vodafone Idea Ltd IPO is Link Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.
The shares of Vodafone Idea Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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