Vodafone Idea FPO: Vodafone Idea’s Rs 18,000 crore follow-on public offer (FPO), the largest in India’s history, was fully subscribed on the third day. Global institutional investors like GQG, Capital Group, and Fidelity Investments showed high interest in the telecom company. The section for qualified institutional buyers (QIBs) was subscribed 1.23 times, non-institutional investors (NIIs) 1.93 times, and the retail segment 42%.
An ET report by Rajesh Mascarenhas mentioned that Rajiv Jain’s GQG Partners, which had previously invested almost Rs 1,350 crore in Vodafone Idea’s anchor book, continued to support the company’s FPO. Other significant foreign institutional investors, such as Capital Group and Fidelity Investments, also subscribed to the FPO, according to banking sources.
Vodafone Idea’s FPO started off well on Thursday, with 26% of the issue being subscribed on the first day of bidding. This strong initial response was mainly due to high demand from qualified institutional buyers (QIBs).
The follow-on public offer (FPO), with shares priced between Rs 10-11 each, is scheduled to close today. Last Tuesday, the loss-making telecom company raised Rs 5,400 crore from 74 anchor investors by selling 4.91 billion shares at Rs 11 each.
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Shares of Vodafone increased by 2.17% on Thursday, reaching Rs 13.20 on the Bombay Stock Exchange (BSE). The share price has more than doubled over the past year.
Foreign institutional investors, including GQG, UBS, AustralianSuper, Fidelity, Redwheel Funds, Abu Dhabi Investment Authority, Allspring Global Investments, Morgan Stanley Investment Funds, Government Pension Fund Global, Copthall Mauritius Investment, and Societe Generale, were among those who subscribed to Vodafone Idea’s anchor book. Domestic mutual funds like HDFC, Quant, Motilal Oswal, Baroda BNP Paribas, and 360 One were also anchor investors.
Most analysts advised subscribing to the follow-on public offer (FPO), stating that the telecom operator’s prospects should improve with the fresh injection of funds from the share sale.
An ET report by Rajesh Mascarenhas mentioned that Rajiv Jain’s GQG Partners, which had previously invested almost Rs 1,350 crore in Vodafone Idea’s anchor book, continued to support the company’s FPO. Other significant foreign institutional investors, such as Capital Group and Fidelity Investments, also subscribed to the FPO, according to banking sources.
Vodafone Idea’s FPO started off well on Thursday, with 26% of the issue being subscribed on the first day of bidding. This strong initial response was mainly due to high demand from qualified institutional buyers (QIBs).
The follow-on public offer (FPO), with shares priced between Rs 10-11 each, is scheduled to close today. Last Tuesday, the loss-making telecom company raised Rs 5,400 crore from 74 anchor investors by selling 4.91 billion shares at Rs 11 each.
ALSO READ | Low-cost wealth creation opportunity: Why financial planners are recommending Nifty 500 over Nifty 50
Shares of Vodafone increased by 2.17% on Thursday, reaching Rs 13.20 on the Bombay Stock Exchange (BSE). The share price has more than doubled over the past year.
Foreign institutional investors, including GQG, UBS, AustralianSuper, Fidelity, Redwheel Funds, Abu Dhabi Investment Authority, Allspring Global Investments, Morgan Stanley Investment Funds, Government Pension Fund Global, Copthall Mauritius Investment, and Societe Generale, were among those who subscribed to Vodafone Idea’s anchor book. Domestic mutual funds like HDFC, Quant, Motilal Oswal, Baroda BNP Paribas, and 360 One were also anchor investors.
Most analysts advised subscribing to the follow-on public offer (FPO), stating that the telecom operator’s prospects should improve with the fresh injection of funds from the share sale.