Home Business Vodafone Idea’s FPO shares set to list today, spotlight on stock’s future trajectory.

Vodafone Idea’s FPO shares set to list today, spotlight on stock’s future trajectory.

by smtfin
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Vodafone Idea’s FPO accepted bids from April 18 to April 22, offering shares at a fixed price range of Rs 10-11 per share.

Vodafone Idea Ltd shares gain attention Thursday as FPO securities list today. Investors anticipate decent profits considering current stock price.

Vodafone Idea FPO Highlights: Recap and Subscription Details:

Vodafone shares witnessed robust profit-taking Wednesday, dropping 9% to Rs 13.09. This followed a 12% surge to Rs 14.39 each on Tuesday. Vodafone Idea held a market cap of Rs 65,000 crore.

Before listing, Vodafone Idea’s FPO shares carry a grey market premium of Rs 1.40 each, indicating a 12.73% listing gain from the issue price of Rs 11 per share.

Source: Business Today

Recalling, Vodafone Idea’s FPO bidding ran from April 18 to April 22, with shares offered in the fixed price range of Rs 10-11 per share. Lot size stood at 1,298 shares. The company garnered Rs 18,000 crore from the entirely fresh share sale, totaling up to 16,36,36,36,363 equity shares.

The issue garnered an overall subscription of 6.36 times, attracting bids worth approximately Rs 1,14,500 crore. QIBs’ reserved quota was oversubscribed by 17.56 times, while non-institutional investors subscribed 4.13 times. Retail investors’ portion witnessed 92% bidding during the three-day process.

Vodafone Idea: Company Overview and FPO Management Details-

Established in March 1995, Vodafone Idea operates in telecommunications, offering voice, data, and value-added services via 2G, 3G, and 4G technologies. It caters to enterprises and consumers with services like short messaging and digital solutions, serving over 30 crore customers across 17 nations with mobile and fixed services.

Jefferies India, Axis Capital, and SBI Capital Markets serve as the book running lead managers for the Vodafone Idea FPO, with Link Intime India acting as the issue’s registrar.

Disclaimer: SMT offers stock market news solely for informational purposes and should not be interpreted as investment advice. Readers are advised to seek guidance from a qualified financial advisor prior to making any investment decisions.

You might also be interested in – Vodafone Idea climbs 12% following after FPO subscribed by 6.99 times

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