The FPO of Vodafone Idea was open for bidding between April 18 and April 22 as it offered its shares in the fixed price band of Rs 10-11 per share.
Jefferies India, Axis Capital and SBI Capital Markets are the lead managers of the Vodafone Idea FPO, while Link Intime India is the registrar.
Shares of Vodafone Idea Ltd are in focus on Thursday as the securities issued in the follow-on-public offering (FPO) will get listed at bourses today. Investors are likely to make a decent profit on the counter, if one goes by the prevailing stock price.
Shares of Vodafone saw a strong bout of profit booking on Wednesday, as they fell 9 per cent to Rs 13.09. This is after the stock surged 12 per cent to Rs 14.39 apiece on Tuesday. Vodafone Idea commanded a total market capitalisation of Rs 65,000 crore..
Ahead of its listing, the FPO shares of Vodafone Idea are commanding a grey market premium of Rs 1.40 apiece, suggesting a listing pop of 12.73 per cent to investors against their issue price of Rs 11 per share.
To recall, the FPO of Vodafone Idea was opened for bidding between April 18 and April 22. The company had offered its shares in the fixed price band of Rs 10-11 per share. The lot size was 1,298 shares. The company raised a total of Rs 18,000 crore from its follow-on offering, which was entirely a fresh share sale of up to 16,36,36,36,363 equity shares.
The issue was overall subscribed a total of 6.36 times, fetching bids for around Rs 1,14,500 crore. The quota reserved for qualified institutional bidders (QIBs) was booked 17.56 times The quota for non-institutional investors was subscribed 4.13 times. The portion reserved for retail investors saw bidding for only 92 per cent during the three-day bidding process.
Incorporated in March 1995, Vodafone Idea is a telecommunications player, which provides voice, data, and value-added services across 2G, 3G, and 4G technologies, such as short messaging and digital services for enterprises and consumers. It offers mobile and fixed services to more than 30 crore customers in 17 countries.
Jefferies India, Axis Capital and SBI Capital Markets are the book running lead managers of the Vodafone Idea FPO, while Link Intime India is the registrar for the issue.
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