Vodafone Idea’s FPO, the largest in India’s history, was subscribed seven times overall and 19 times by institutional investors, highlighting the immense potential of the Indian market and Vodafone Idea’s crucial role in it. The strong participation from both foreign and domestic investors, as well as the full subscription of the retail portion, is a testament to the company’s prospects.
Birla acknowledged the government’s support through reform packages and its commitment to maintaining a competitive three-player market, which has been transformative for the sector. He also highlighted the substantial investments made by the Aditya Birla Group and Vodafone Group in the Indian telecom industry, amounting to around 170,000 crore.
Proceeds from the FPO will be used for significant capital expenditure, triggering a cycle of growth. The fundraise and continued support from banks will enable Vodafone Idea to stage a smart turnaround, marking the beginning of ‘Vodafone Idea 2.0.’ Birla emphasized the importance of a revitalized Vodafone Idea for the country, as it will contribute to the sustainable growth of the telecom industry.
