Vodafone Idea to launch country's largest $2.16 bn follow-on public offer

The public offering will open for bids on April 18 and close on April 22

Indian telecom operator Vodafone Idea said on Friday it would raise up to Rs 18,000 crore ($2.16 billion) later this month through a sale of new shares, in what will be the country's biggest follow-on public offering (FPO).

The debt-laden company said in February it would raise up to Rs 20,000 crore through equity, which included financial support of Rs 2,000 crore from a top shareholder entity it did not name.

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