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Vodafone Idea historic mega rights issue opens on 10th April 2019

Published on Friday, April 5, 2019 by Dilip Davda

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Vodafone Idea Ltd. (VIL) - (erstwhile known as Idea Cellular Ltd.) the new entity emerged post merger of Vodafone and Idea cellular companies is coming out with a maiden mega rights issue to mobilize ₹24999.80 cr. The company is offering 19999830911 equity shares of ₹10 each at a premium of ₹2.50 per share (i.e. at ₹12.50 per share fixed price). Issue opens for subscription on 10th April 2019 and will close on 24th April 2019.

The details of VIL's Equity Share capital, net worth, total revenue, profit after tax, earnings per Equity Share (basic and diluted), the net asset value per Equity Share and total borrowings as at and for the nine month periods ended December 31, 2017 and December 31, 2018 and as at and for the Financial Years ended March 31, 2016, March 31, 2017 and March 31, 2018 derived from the Restated Consolidated Financial Information is as follows:

Financial Information of Vodafone Idea Ltd

Particulars As at
  December 31, 2018 December 31, 2017 March 31, 2018 March 31, 2017 March 31, 2016
Equity Share Capital 87,354 36,075 43,593 36,053 36,005
Net Worth 942,752 214,868 272,625 247,322 235,505
Net Asset value per Equity Share 73.88 59.56 62.54 68.60 65.41
Total Borrowings 1,236,638 573,428 579,851 550,545 405,413

 

Revenue, Profit, Earnings of Vodafone Idea

Particulars As at
  December 31, 2018 December 31, 2017 March 31, 2018 March 31, 2017 March 31, 2016
Revenue from Operations 253,175 220,834 282,046 355,357 359,494
Profit / (Loss) after Tax (97,219) (32,060) (41,682) (3,997) 27,281
Earnings per share          
-Basic (15.42) (8.95) (11.36) (1.23) 7.42
-Diluted (15.42) (8.95) (11.36) (1.23) 7.40

 

The following table sets forth the calculation of Total Borrowings:

(₹ in million)

Particulars For the period / year ended
  December 31, 2018 December 31, 2017 March 31, 2018 March 31, 2017 March 31, 2016
Long Term Borrowings 1,156,078 565,012 569,408 516,378 359,040
Short Term Borrowings 10,906 901 217 347 16,456
Current maturities of long term debt 69,654 7,516 10,226 33,820 29,917
Total Borrowings 1,236,638 573,428 579,851 550,545 405,413

VIL is offering 87 rights shares for every 38 equity shares held by existing investors as on 2nd April 2019 (Record date). Post allotment shares will be listed on BSE and NSE. The original shareholders may opt for additional shares provided they are applying for full entitlements. Rights letter of offer gets traded in market under renunciation and renouncee cannot apply for additional shares.

The issue is jointly lead managed by Kotak Mahindra Capital Co. Ltd., DSP Merrill Lynch Ltd., Morgan Stanley India Co. Pvt. Ltd., HDFC Bank Ltd. and SBI Capital Markets Ltd. Bigshare Services Pvt. Ltd. is the registrar to the issue.

Post issue VIL's current paid up equity capital of ₹8735.40 cr. will stand enhanced to ₹28735.40 cr. and its other equity will stand enhanced from ₹55800 cr. to ₹60800 cr. Thus even after issue, its NAV will be around ₹21 against offer price of ₹12.50 per share. Post issue VIL's current debt equity ratio of 1.78 will come down to around 1.

VIL currently has 1.4 million retail touch points, 387 million subscriber, 11100 branded stores, 32% revenue market share and 38% customer market share with two complementary brands "Vodafone" and "Idea", VIL is poised for a healthy competition. IT enjoys larges spectrum portfolio and is one of the three main players that include Jio and Bharti. Post merger VIL is poised for better synergy to expand its operations rapidly. According to VIL, Indian market is a large under-penetrated growth story.

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16 Comments

Kaushik
16. Kaushik  May 16, 2019 00:00 Reply
Right issue update?
Pushpendu
15. Pushpendu  May 8, 2019 17:58 Reply
did anyone receive shares from right issues?
S V VENKATACHALAM
14. S V VENKATACHALAM  May 4, 2019 10:06 Reply
When we can know the completion of process of right issue and release of lien in our bank account ASBA Since applied more shares than the eligibility
S V VENKATACHALAM
Shanker Moriani
14.1. Shanker Moriani  May 5, 2019 14:11
Allotment status
Dhanya
13. Dhanya  Apr 30, 2019 15:17 Reply
When will Rights share get listed
Raghu
13.1. Raghu  May 1, 2019 18:05
May 10
Kaushik
12. Kaushik  Apr 25, 2019 18:52 Reply
Allotment Date ?
pankaj
11. pankaj  Apr 23, 2019 08:55 Reply
How to know subscription of right issue till date ?
Sd
10. Sd  Apr 17, 2019 22:56 Reply
I don't have any scsb nearer to me then what to do for ASBA application?
Nagbhushan
9. Nagbhushan  Apr 17, 2019 11:12 Reply
Duplicate CAF downloaded, now received original CAF by Speedpost, can I use original CAF for subscribing rights shares?
sushil
8. sushil  Apr 17, 2019 08:18 Reply
Where i can submit the application form in Tirupati
Jignesh
7. Jignesh  Apr 16, 2019 22:47 Reply
I want to apply online through SBI online banking but I could not see the option in ASBA->IPO . can someone guide me how to apply online ??
Pankaj
6. Pankaj  Apr 16, 2019 15:26 Reply
Apparently my Indusind Bank online is showing link for Vodafone Idea rights issue application and it is asking amongst other things mandatory "Application Reference No."
I believe that it must be referrring to the CAF No. which i got.
Someone please guide if we can apply online through Indusind Bank.
Pankaj
6.1. Pankaj  Apr 16, 2019 16:33
Spoke to Indusind bank people and they said that we have to fill in the Demat account number in the mandatory "Application Ref No." box.
Can anybody confirm this.
Aman A
5. Aman A  Apr 16, 2019 14:48 Reply
Hello All,

You can download your duplicate form here

http://bigshareonline.com/Web_Reports/BOSSReports/RightsIssue/VodafoneIdead.aspx

Thanks
Ketan Delhiwala
4. Ketan Delhiwala  Apr 13, 2019 03:31 Reply
I have account with hdfc securities and hdfc bank. I have downloaded the duplicate forms ? Where can i submit the filled forms ?
BullOverBear
4.1. BullOverBear  Apr 15, 2019 16:56
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Firstly; I am not rights issue expert...I myself have received form and had quick go through.

The form has list of banks, apparently Axis Bank, HDFC Bank and SBI along with eligible branch for each where the form need to be submitted, though very limited cities and then a single branch there-in.

Will add on gaining more insights.

Disclaimer: I may not apply for the rights issues
Anil Zee
3. Anil Zee  Apr 10, 2019 14:26 Reply
They dispatch a printed form if your are eligible shareholder on 02-04-2019
but
if you didn't receive the form then download Duplicate From in PDF

Procedure for Obtaining Duplicate Rights application form ( "CAF" ) :

Shareholders are requested to note:
1. Duplicate CAF can be downloaded from our website only once.
2. If you have received the original CAF subsequent to printing of duplicate CAF from the website, Please don't use the Original CAF for subscription or for renunciation
3. There are 3 pages for this Duplicate CAF printed on A4 size paper and in case of subscription ,all the 3 pages needs to be submitted to the collecting Bankers after duly filling the same along with the cheque either by you or by your renouncee.
4. Alternatively, you can also write to us for obtaining the duplicate CAF at email
If you still wish to obtain Duplicate CAF from the website, Please click below
Harsh
3.1. Harsh  Apr 12, 2019 10:47
Referring to your message above;

Can you please provide the hyperlink to the page where I can download the duplicate application form "CAF" ?

Thanks
Kapil
3.2. Kapil  Apr 13, 2019 12:43
Where I can download the duplicate form?
I can't find any link.
DK
2. DK  Apr 10, 2019 10:17 Reply
How do I apply for the issue online as there are centers only in town in Mumbai and not in suburbs
Prabahar P M
2.1. Prabahar P M  Apr 10, 2019 10:38
Me too checking for the same. But you can send the application thru post to the mentioned address.
Saha
1. Saha  Apr 10, 2019 09:11 Reply
How to apply for this right issue?



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