Here’s everything you need to know
This issue will dilute the promoter's shareholding from 48.9 per cent (as of December 2023) to 36.9 per cent. Post FPO, the company will have a m-cap of around Rs 73,131 crore.
The company has faced issues scaling up its operation with its revenue growth plateauing in the last two years.
Since 2017, the company has faced continuous losses, prompting equity investments from promoters and debt accrual to support operations.
It has also converted the loans it owes to the government to equity, diluting shareholders’ wealth further. The government now owns around 33 per cent stake in it.
The company plans to raise around Rs 45,000 crore in total. Apart from the FPO, it may raise Rs 25,000 crore via debt. The remaining funds might be infused by the promoters.