Vodafone Idea Limited IPO
Vodafone Idea Limited IPO
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Vodafone Idea Limited's has transitioned to a publicly listed entity following its IPO debut on 25-04-2024 at the NSE, BSE exchange. The public offering successfully raised 16,36,36,36,363 Shares, consisting of 16,36,36,36,363 Sharesin new capital.
The IPO featured a competitive price range of ₹10 to ₹11 and minimum application size of 1298 shares. Market reception was evidenced through subscription activity between 18-04-2024 and 22-04-2024, reflecting investor appetite for the offering.
Allotment of shares was completed on 23-04-2024, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Vodafone Idea IPO About Company
Founded in March 1995, Vodafone Idea Limited is a major telecom company serving both businesses and consumers across India. It offers a wide range of voice, data, and digital services on 2G, 3G, and 4G networks, including messaging and value-added features. As of December 31, 2023, the company has over 223 million subscribers, holding a 19.3% market share. With a vast network handling 401 billion voice minutes and 6,004 billion MB of data, Vodafone Idea plays a key role in India’s telecom industry. Backed by the combined expertise of Vodafone and Idea, the company reported a total income of ₹424,885 million for FY2023, with ₹321,256 million earned in the first nine months of the year. It operates around 183,400 tower locations and provides broadband services to over 438,900 units, covering more than a billion people across India. To ensure easy access to its services, 2,300 branded urban stores are spread across the country, covering over 95% of all districts. Supported by a dedicated workforce of 12,598 employees, Vodafone Idea continues to innovate and expand its services, reinforcing its position as a leading telecom provider in India.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Vodafone Idea IPO Strength Factors
- Strong Market Presence and Subscriber Base: and Vodafone Idea Limited is India’s third-largest telecom operator with over 223 million subscribers and a 19.3% market share.
- Extensive Network Coverage: and the company owns 8,005.2 MHz spectrum and a 298,000 km fiber network supporting 2G, 3G, 4G, and future 5G services.
- 5G-Ready Technology: and with over 90% of its TDD 2500 MHz equipment already 5G-ready, Vodafone Idea is prepared for advanced Massive MIMO, ORAN, and E-band–based next-gen connectivity.
Vodafone Idea IPO Risk Factors
- Financial Challenges and Debt Obligations: and Vodafone Idea faces high debt levels, compliance issues with financing agreements, and delayed payments to vendors, which may affect cash flow, relationships, service quality, and network expansion.
- Outstanding Payables and Capital Expenses: and the company has large trade payables, capex dues, and lease liabilities that could create liquidity pressure, strain supplier relationships, and cause operational disruptions if not managed well.
- Competitive and Regulatory Pressures: and intense competition and strict telecom regulations may impact Vodafone Idea’s market share, revenue, and profitability, while new policies or industry changes could add further financial and operational challenges.
Vodafone Idea IPO Lead Manager(s)
- Axis Capital Limited
- Jefferies India Private Limited
- SBI Capital Markets Limited
Vodafone Idea IPO Promoter(s)
- Kumar Mangalam Birla
- Hindalco Industries Limited
- Grasim Industries Limited
- Birla TMT Holdings Private Limited
- Vodafone International Holdings B.V.
- Al-Amin Investments Limited
- Asian Telecommunication Investments (Mauritius) Limited
- CCII (Mauritius), Inc.
- Euro Pacific Securities Ltd
- Vodafone Telecommunications (India) Limited
- Mobilvest
- Prime Metals Ltd
- Trans Crystal Ltd
- Omega Telecom Holdings Private Limited
- Usha Martin Telematics Limited
Vodafone Idea IPO FAQs
Vodafone Idea Limited IPO subscribed 6.99 times. The public issue subscribed 1.01 times in the retail category,19.31times in QIB, and 6.04 times in the HNI (10+) category byNovember 19, 2025 7:23:57 AM (Day 19).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Vodafone Idea IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Vodafone Idea IPO FAQs
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