Vodafone shares fall 4% after company plans for FPO

Vodafone Idea’s stock dropped by more than 4% after the company announced plans for a public offering of its shares worth Rs 18,000 crore.

The company’s board approved this decision on Friday. The follow-on public offer (FPO) is set to begin on April 18 and end on April 22. The anchor investor bid will start on April 16.


On Thursday, the telecom operator also passed a resolution to submit the red herring prospectus to the Gujarat Registrar of Companies for the further public offering of equity shares.

As of 10:15 am, the shares were trading 4.25% lower at ₹12.40 on the NSE.