Saturday, May 25, 2024
HomeLatest NewsBusinessVodafone Idea FPO Subscribed 6x On Last Day, Garners Nearly Rs 1...

Vodafone Idea FPO Subscribed 6x On Last Day, Garners Nearly Rs 1 Lakh Crore Bids – Prime Time News24


Vodafone Thought’s Rs 18,000 crore FPO ends at the moment

Vodafone Thought’s follow-on public supply (FPO) was totally subscribed by the afternoon of April 22; Know subscription particulars

Vodafone Thought’s follow-on public supply (FPO) was subscribed 6.36 occasions by April 22, the ultimate day of bidding, with buyers bidding for 8,011.8 crore fairness shares, subscription information from exchanges confirmed.

Certified institutional consumers (QIBs) have taken the lead, subscribing 17.56 occasions the portion reserved for them. Non-institutional buyers bought 4.13 occasions their allotted quota of shares reserved. Retail buyers picked 91 per cent of their allotted quota of shares.

That is the very best ever subscription in QIB, Massive HNI and Small HNI by way of variety of occasions subscribed and quantity garnered.

Rajiv Jain’s GQG Companions, which had invested practically Rs 1,350 crore in Vi’s anchor e book, continued to put money into the FPO. Moreover, a number of different international institutional buyers, resembling Capital Group and Constancy Investments, subscribed to the problem, based on banking sources.

Vi’s FPO started on a optimistic word on Thursday, with the problem subscribed 26% on the primary day of bidding, largely pushed by sturdy demand from QIBs.

The telecom large raised Rs 5,400 crore from institutional buyers by way of the anchor e book within the higher worth band of Rs 11. The value band for the supply has been fastened at Rs 10-11 apiece.

Citigroup, Goldman Sachs, Morgan Stanley, GQG Companions, Constancy, UBS Fund Administration, Redwheel Funds, HDFC Mutual Fund, Authorities Pension Fund World, Carnelian Capital, Copthall Mauritius Funding, and Societe Generale had been among the many anchor buyers.

The nation’s third-largest telecom operator has provided 1,260 crore shares within the Rs 18,000-crore FPO, the biggest such providing within the nation. This transfer is a component of a bigger technique to collect Rs 45,000 crore by means of a mixture of debt and fairness.

Vodafone Thought will spend Rs 12,750 crore of the online concern proceeds for the growth of the community infrastructure by establishing new 4G and 5G websites and increasing the capability of current 4G websites.

Shares of Vodafone rallied 2.17 per cent on Thursday to Rs 13.20 on the BSE. The share worth has greater than doubled up to now 12 months.

Most analysts really helpful subscribing to the FPO, saying that the operator’s prospects stand to enhance with the recent infusion of cash after the share sale.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments