VI FPO Basis of Allotment

Our Company was incorporated as 'Birla Communications Limited', a public limited company under the Companies Act, 1956 with a certificate of incorporation issued by the Registrar of Companies, Maharashtra at Mumbai on March 14,1995 and a certificate of commencement of business on August 11,1995. Pursuant to a joint venture agreement dated Decembers, 1995 between AT&T Corporation and Grasim Industries Limited, the name of our Company was changed to 'Birla AT&T Communications Limited' and a fresh certificate of incorporation was issued by the Registrar of Companies, Maharashtra at Mumbai on May 30,1996. The name of our Company was subsequently changed to 'Birla Tata AT&T Limited' and a fresh certificate of incorporation was issued by the Registrar of Companies, Gujarat at Ahmedabad ("RoC") on November 6,2001 pursuant to a shareholders agreement dated December 15, 2000 entered into between Grasim Industries Limited on behalf of the Aditya Birla group, Tata Industries Limited on behalf of the TATA Group and AT&T Wireless Services Inc. on behalf of the AWS Group which replaced the joint venture agreement between AT&T Corporation and Grasim Industries Limited. Further, pursuant to the introduction of the Idea brand, the name of our Company was changed to 'ldea Cellular Limited' and afresh certificate of incorporation was issued by the RoC on May 1, 2002. Thereafter, pursuant to amalgamation of VMSL and Vodafone India with our Company, the name of our Company was changed to its present name 'Vodafone Idea Limited', and afresh certificate of incorporation was issued by the RoC on August 31, 2018. For further details in relation to the changes in our name and the registered office of our Company, see ‘History and Certain Corporate Matters - Brief history and certain Corporate Matters" and "History and Certain Corporate Matters- Changes in the registered office of our Company each on page 145 of the Prospectus dated April 22, 2024.

Our Company has filed the Prospectus dated April 22, 2024 with the RoC (the "Prospectus") and the Equity Shares (as defined below) are proposed to be listed on the Main Board platform of the Stock Exchanges and the trading will commence on Thursday, April 25,2024.

FURTHER PUBLIC OFFERING OF 16,363,636,363 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ("EQUITY SHARES") OF VODAFONE IDEA LIMITED ("COMPANY") FOR CASH AT A PRICE OF Rs. 11 PER EQUITY SHARE (INCLUDING A PREMIUM OF Rs. 1 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO Rs. 180,000 MILLION BYW AY OF A FRESH ISSUE (THE "OFFER"). THE OFFER CONSTITUTES 24.61% OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OURCOMPANY.

1. The audit and review reports of the statutory auditors of our Company contain a paragraph on material uncertainty relating to going concern. There can be no assurance that any similar observations or remarks will not form part of the financial statements of our Company, orthat such remarks will not affect ourfinancial condition.

2. We have derived our revenues primarily from providing mobility services and we have been dependent on the service areas of Maharashtra, Gujarat and Mumbai for a significant proportion of our revenues. As per the gross revenues reported in TRACs financial data reports, the contribution of the service areas of Maharashtra, Gujarat and Mumbai for the nine months ended December 31, 2023 and December 31, 2022 and the Financial Years 2023, 2022 and 2021 was 29.3%, 28.5%, 28.6%, 27.8% and 27.0%, respectively.

3. Any downgrade in our credit ratings could increase our borrowing costs, affect our ability to obtain financing, and adversely affect our business, results of operations and financial condition.

4. Our telecommunication licenses and spectrum allocations are subject to terms and conditions, ongoing review and varying interpretations, each of which may result in modification, suspension, early termination, expiry on completion of the term or additional payments.

5. We have incurred losses during recent periods and we may not achieve or sustain profitability in the future. During the nine months ended December 31, 2023 and December 31, 2022 and the Financial Years 2023, 2022 and 2021, our loss after tax was Rs. 235,638 million, Rs. 231,870 million, Rs. 293,011 million, Rs. 282,454 million and Rs. 442,331 million, respectively.

6. Our Company has incurred significant indebtedness and has not complied with certain covenants under its financing agreements. Our inability to meet our obligations, including financial and other covenants, under our debt financing arrangements could adversely affect our business, results of operations, financial condition and cash flows.

7. We require significant capital to fund our capital expenditure and working capital requirements and if we are unable to raise additional capital, our business, results of operations, financial condition and cash flows could be adversely affected.

8. If we are unable to acquire new broadband subscribers or convert our existing subscribers to broadband subscribers, our business, financial condition, results of operations and prospects may be adversely affected.

9. The three Book Running Lead Managers ("BRLMs") associated with the Offer have handled 40 public issues in the past three Fiscal Years, out of which 15 issues closed below the Offer price on the listing date.

*lssues handled where there were no common BRLMs

The Offer was made through the fast track route in terms of Regulation 155 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ('SEBI ICDR Regulations'). The Offer was made in accordance with Regulation 129(1) of the SEBI ICDR Regulations and through a book building process wherein not more than 50% of the Offer was made available for allocation on a proportionate basis to Qualified Institutional Buyers (*QIBs*, and such portion, the "QIB Portion"). Our Company in consultation with the Book Running Lead Managers, allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), out of which at least one-third was reserved for allocation to domestic Mutual Funds only, subject to valid Bids having been received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations. Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was made available for allocation on a proportionate basis to all QIB Bidders other than Anchor Investors, including Mutual Funds, subject to valid Bids having been received at or above the Offer Price. However, if the aggregate demand from Mutual Funds was less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation were added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer was made available for allocation to Non-lnstitutional Bidders, in accordance with Regulation 129(1) of the SEBI ICDR Regulations, out of which (a) one-third of such portion was reserved for Bidders with Bids exceeding Rs. 0.20 million up to Rs. 1.00 million; and (b) two-third of such portion was reserved for applicants with Bids exceeding Rs.1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non- lnstitutional Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. Further, not less than 35% of the Offer was available for allocation to Retail Individual Bidders ("RIBa") in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Offer Price. All Bidders, other than Anchor Investors, were required to mandatorily utilise the Application Supported by Blocked Amount (‘ ASBA") process by providing details of their respective bank account (including UPI ID In case of UPI Bidders using UPI Mechanism) in which the corresponding Bid Amounts will be blocked by the SCSBs. or by the Sponsor Banks under the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors were not permitted to participate in the Anchor Investor Portion through the ASBA process. For details, see ‘Offer Procedure" beginning on page 675 of the Prospectus.

The bidding for Anchor Investor opened and closed on Tuesday, April 16,2024. The Company received 75 applications from 69 anchor investors for 4,978,131,136 equity shares. The Anchor investor price was finalized at Rs. 11 per Equity Share. A total of 4,909,090,908 shares were allocated under the Anchor Investor Portion aggregating to Rs. 53,999,999,988.00

The Issue received 1,113,695 applications for 85,153,381,940 Equity Shares (prior to rejections) resulting in 5.20 times subscription. The details of the applications received in the Offer from various categories are as under: (before rejections):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Closing Date as at different Bid prices is as under:

A. Allotment to Retail Individual Investors (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at the Cut-Off Price or at the Offer Price of Rs. 11 per Equity Share, was finalized in consultation with NSE. This category has been subscribed to the extent of 0.98 times. The total number of Equity Shares Allotted in Retail Portion is 5,589,112,716 Equity Shares to 941,671 successful Retail Individual Bidders. The category-wise details of the Basis of Allotment are as under

B. Allotment to Non-Institutional Bidders (more than 10.20 million and up to Rs. 1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders (more than Rs. 0.20 million Up to 11.00 million), who have bid at the Offer Price of Rs. 11 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 1.50 times. The total number of Equity Shares allotted in this category is 828,809,513 Equity Shares to 42,568 successful applicants. The category-wise details of the Basis of Allotment are as under.

C. Allotment to Non-lnstitutional Bidders (more than* 1.00 million) (After Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-lnstitutional Bidders (more than *1 million), who have bid at the Offer Price of 111 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 5.84 times. The total number of Equity Shares allotted in this category is 1,657,619,022 Equity Shares to 66,592 successful applicants. The category-wise details of the Basis of Allotment are as under: (Sample)

D. Allotment to QIBs

Allotment to QIBs, who have Bid at the Offer Price of 111 per Equity Share or above, has been done on a proportionate basis in consultation with the Designated Stock Exchange, being NSE. This category has been subscribed to the extent of 19.33 times of QIB Portion. As per the SEBI Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e., 168,950,211 Equity Shares and other QIBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e., 3,210,053,993 Equity Shares on a proportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 3,379,004,204 Equity Shares which were allotted to 329 successful QIB Investors. The category-wise details of the Basis of Allotment are as under:

E. Allotment to Anchor Investors

The Company, in consultation with the BRLMs, has allocated 4,909,090,908 Equity Shares to 68 Anchor Investors (through 74 Applications) at the Anchor Investor Offer Price of f11 per Equity Share in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.

The Capital Raising Committee of our Company on April 23,2024 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being NSE. and has allotted the Equity Shares to various successful Bidders. The Allotment Advlce-cum- Intimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds and transfer of funds to the Public Issue Account have been issued on April 23.2024, and payment to non-Syndicate brokers have been issued on April 24. 2024. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful Allottees have been uploaded on April 24,2024 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has filed the Listing applications with BSE and NSE on April 24, 2024. The Company has received listing and trading approvals from BSE and NSE and the trading will commence on April 25, 2024.

Note: All capitalised terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.

INVESTORS PLEASE NOTE

The details of the allotment made will be hosted on the website of the Registrar to the Offer, Link Intime India Private Limited at: www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First / Sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

	Link Intime India Private Limited
	C 101,1st Floor, 247 Park, L.B.S Marg, Vikhroli (West)
	Mumbai 400 083, Maharashtra, India
	Tel: +91 810 811 4949
	E-mail: vodafoneidea.Ipo@linkintime.co.in
	Website: www.linkintime.co.in
	Investor Grievance ID: vodafoneidea.Ipo@linkintime.co.in
	Contact Person: Shanti Gopalakrishnan
	SEBI Registration Number INR000004058

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF VODAFONE IDEA LIMITED.

VODAFONE IDEA LIMITED has filed the prospectus dated April 22, 2024 ("Prospectus") with the Registrar of Companies, Gujarat at Ahmedabad. The Prospectus is available on the website of the SEBI at " www.sebi.gov.in  ", the website of the Company at " www.myvi.in " as well as on the websites of the book running lead managers Axis Capital Limited, Jefferies India Private Limited and SBI Capital Markets Limited at " www.axiscapital.co.in ", " www.jefferies.com " and " www.sbicaps.com ", respectively, the website of the BSE Limited at " www.bseindia.com " and the website of the National Stock Exchange of India Limited at " www.nseindia.com ". For details, investors should refer to the Prospectus, including the section titled "Risk Factors" beginning on page 23 of the Prospectus.

These materials are not for publication or distribution, directly or indirectly, in or into the United States. These materials are not an offer for the sale of the Equity Shares or other securities in the United States or elsewhere. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions as defined in and in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made; and (ii) in the United States to persons reasonably believed to be to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act), pursuant to Section 4(a) of the U.S. Securities Act. No public offering of the Equity Shares or other securities Is being made In the United States.