Vodafone Idea FPO: Issue subscribed 49% on day 2, QIBs steal the show; check latest GMP

Of the 1,260 crore shares connected offer, 617.46 crore was subscribed connected Friday, arsenic per BSE data. The contented was booked 49% connected the 2nd day.

QIBs garnered 93% of the 360 crore shares that were acceptable speech for them, whilst NIIs picked up 75% of the 270 crore shares that had been allocated for them. Retail investors, who were fixed the largest information of the offer, picked up pace, with 13% of the 630 crore shares being subscribed to.

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Also Read: Vodafone Idea FPO time 2: GMP, subscription presumption to review. Should you subscribe to this ₹18,000 crore issue?

On time 1, Vodafone Idea FPO was subscribed 26%. Based connected BSE data, the QIB quota had 61% subscriptions, the NII class was booked 28%, and retail investors had bid for conscionable 6% of the shares acceptable speech for them.

The Vodafone Idea FPO ends connected Monday, April 22. It kicked disconnected for subscriptions yesterday, Thursday, April 18. The terms set for Vodafone Idea FPO has been fixed successful the scope of ₹10 to ₹11 apiece. Bids tin beryllium submitted successful multiples of 1,298 equity shares, with a minimum bid bounds of 1,298 equity shares.

On Friday, Vodafone Idea stock terms ended 2.12% little astatine ₹12.92 apiece connected BSE.

Also Read: Vodafone Idea FPO booked 26% connected time 1 led by QIBs

Vodafone Idea FPO details

The Vodafone Idea FPO full connection size comprises of caller contented of equity shares aggregating up to ₹18,000 crore.

As per the reddish herring prospectus, the institution intends to walk ₹12,750 crore of the full FPO proceeds to bargain instrumentality for the constitution of caller 4G sites, boosting the capableness of existent 4G sites, and creating caller 5G sites, each of which volition lend to the enlargement of its web infrastructure.

Out of the ₹12,750 crore acceptable speech for web development, ₹5,720 crore would beryllium utilized to found its 5G network. A further ₹2,175.31 crore would beryllium utilized to wage for spectrum connected a deferred  basis.

The remaining proceeds from the FPO volition beryllium utilised by the telecom firm for a fig of wide firm objectives, including gathering moving superior needs.

Vodafone Idea garnered around ₹5,400 crore with its follow-on nationalist offering from anchor investors, which included Jupiter Fund Management, Australian Super, GQG Partners, Fidelity Investments, and UBS Fund Management, earlier this week. 

The issue's registrar is Link Intime India Private Ltd, and the publication moving pb managers of the VI FPO are Axis Capital Limited, Jefferies India Private Limited, and SBI Capital Markets Limited.

Also Read: Vodafone Idea FPO: Shares leap 4% aft emergence successful GMP. Should you apply?

Vodafone Idea FPO GMP today

Vodafone Idea FPO GMP oregon grey marketplace premium is ₹1.10. The caller shares being issued nether the FPO volition apt beryllium listed astatine ₹12.1, representing a summation of 10% implicit the precocious bounds of the terms band, according to investorgain.com.

The FPO GMP inclination shows nary important change, and is accordant with the erstwhile 7 sessions' grey marketplace activities. This signifier is expected to proceed until the last day. Grey marketplace premium indicates investors' readiness to wage much than the contented price.

'Grey marketplace premium' indicates investors' readiness to wage much than the contented price.

Also Read: Vodafone Idea raises ₹5,400 crore from anchor investors led by GQG

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Published: 19 Apr 2024, 05:45 PM IST