Vodafone Idea Ltd. FPO

Vodafone Idea Ltd.

IPO Listing Details

Listed On


Listed On

Issue Price


Issue Price

Listing Price


Listing Price

Listing Gains

+₹1.00 (+9.09%)

Listing Gains

IPO Details

Bidding Dates

18 Apr - 22 Apr '24

Bidding Dates

Min. Investment


Min. Investment

Lot Size


Lot Size

Price Range

₹10 - ₹11

Price Range

Issue Size

12,600 Cr

Issue Size

Subscription Rate

  • Retail Individual Investor
  • Non-Institutional Investor
  • Qualified Institutional Buyers
  • Employees

About Company

Vodafone Idea Limited, established in March 1995, is one of the leading telecommunication service providers in India. They offer voice, data, and digital services across 2G, 3G, and 4G technologies to over 223 million subscribers as of December 31, 2023, with a subscriber market share of 19.3%. With a strong brand history and over 3 decades of experience from Vodafone and Idea, the company caters to more than 300 million customers in 17 countries and has IoT collaborations in 45 countries. In FY2023, total income was ₹424,885 million, with ₹321,256 million for the nine months ending December 31, 2023. Operating around 183,400 tower locations in India, the company provides broadband services to over 438,900 units, covering more than a billion people, with increased 4G population coverage post-merger. With 2,300 branded urban stores covering over 95% of all districts across India, the company employs 12,598 individuals across all its operations as of December 31, 2023.

Important Dates - Vodafone Idea FPO

Application opens on 18th April 2024
Last date of application 22nd April 2024
Date of Allotment 23rd April 2024
Refund begins from 24th April 2024
Credit of shares to Demat 24th April 2024
Listing date 25th April 2024

Why should you invest in Vodafone Idea Ltd. IPO?

Vodafone Idea Limited is committed to making a positive impact in the communities where they operate. Through partnerships with various stakeholders including government bodies, NGOs, academia, and the media, they have actively contributed to key areas such as education, healthcare, livelihoods, and women's empowerment. Their initiatives leverage innovative mobile technology to create transformative solutions that aim to enhance the well-being of millions across India.

The company has a strong brand presence and operates with over 3 decades of experience from Vodafone and Idea. As of December 31, 2023, Vodafone Idea Limited covers more than a billion people with 183,400 tower locations in India. For FY2023, total income was ₹424,885 million, with ₹321,256 million for the nine months ending December 31, 2023.


Vodafone Idea FPO Grey Market Premium

Date GMP
16th April Rs.1.50
15th April Rs.1.50
14th April Rs.1.20


Financial Snapshot - Vodafone Idea FPO

Check out the financial performance of Vodafone Idea for recent years:

Financial Year Total Assets Total Revenues Net Profit
March 2021 Rs 203,480.60 crore Rs 42,126.40 crore Rs -41,223.10 crore
March 2022 Rs 194,029.10 crore Rs 38,644.90 crore Rs -28,245.40 crore
March 2023 Rs 190,801.80 crore Rs 32,125.60 crore Rs -23.563.80 crore

Vodafone Idea Ltd. IPO - SWOT Analysis


  1. Effectively utilises marketing strategies across diverse platforms to strengthen its brand visibility.
  2. With a massive customer base of 300M+ subscribers in 17 countries, Vi stands as a popular choice among cellular service providers.
  3. It has strategically expanded its infrastructure nationwide through collaborations like the Indus Tower partnership with Airtel.
  4. Showcases its creative approach to brand promotion which resonates with the consumer.
  5. Vi is renowned for its enticing data offers, positioning itself as one of the frontrunners in the market with attractive deals for customers.


  1. Reliance on outsourcing exposes Vi to risks associated with dependence on external partners, potentially affecting the company's day-to-day operations.
  2. Vi faces significant debt burdens attributed to past acquisitions and credit challenges, which pose financial constraints and impact its flexibility.
  3. Market dynamics such as tariff increases and SIM consolidation have contributed to notable financial losses for Vi.
  4. Vi's postpaid plans can be considered as pricey by some, particularly for budget-conscious consumers, creating challenges in retaining market share against competitors like Jio.
  5. Vi's revenue reliance on the Indian market leaves it vulnerable to economic shifts and limits diversification opportunities.


  1. Collaborating with smartphone manufacturers, particularly for Mobile Number Portability (MNP), presents opportunities to enhance cash flow and broaden Vi's customer base through innovative partnerships.
  2. Diversifying into emerging markets or developing economies holds promise considering the fierce competition in the telecom sector.
  3. Investing in infrastructure development and extending 4G coverage, particularly in rural areas, offers Vi the chance to attract new customers and bolster profitability by tapping into underserved segments.
  4. Adopting cutting-edge technologies like 5G and LTE services could elevate Vi's position in the industry, particularly in regions where such advancements are not yet widespread.
  5. Introducing more affordable data plans would enhance Vi's accessibility to a broader customer base.


  1. Challenge to the market position by competitors providing high network speeds and 5G technology.
  2. Vi faces the risk of customer churn through MNP, particularly when subscribers seek more cost-effective alternatives offered by competitors.
  3. Declining stock value, substantial loss of user base, and financial hurdles arising from pricing strategies and service-related issues pose threats to its market viability.


Vodafone Idea FPO Noteworthy Highlights

The offer's objectives are to:

  1. Purchase equipment for network infrastructure expansion. This is to be achieved by setting up new 4G and 5G sites, and expanding the capacity of the 4G and 5G sites that are already existing.

  2. Paying certain deferred payments for spectrum to the DoT and the GST departments.
  3. Overall corporate objectives.

How to apply for Vodafone Idea Ltd. IPO?

You can apply for the Vodafone Idea Ltd. IPO in these ways:

Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.

Demat Account

1. If you are an Existing TradeSmart demat account holder and wish to apply for an Vodafone Idea Ltd. click here.
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Vodafone Idea Ltd. IPO FAQs

What are the opening and closing dates for Vodafone Idea Limited?

Vodafone Idea Limited FPO will open for subscription on April 18, 2024 and close on April 22, 2024.

What is the price band for Vodafone Idea Limited?

The price band for Vodafone Idea Limited is ₹10 to ₹11 per share.

What is the minimum and maximum lot size for Vodafone Idea Limited?

The minimum lot size is 1,298 shares.

Who are Vodafone Idea Limited's lead managers?

Axis Capital Limited, Jefferies India Private Limited, and SBI Capital Markets Limited are the Book Running Lead Managers (BRLM) to the issue.

Who is the registrar of the issue?

Link InTime India Private Ltd is the registrar for Vodafone Idea Limited FPO.

When will the Vodafone Idea Limited allotment take place?

The finalisation of the basis of allotment for Vodafone Idea Limited will be done on April 23, 2024, and the allotted shares will be credited to investors’ demat accounts by April 24, 2024.

When and where will the Vodafone Idea Limited shares be listed?

The equity shares of Vodafone Idea Limited are anticipated to be listed on April 25, 2024, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).


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