Vodafone Idea share price jumps over 4% ahead of FPO

2 weeks ago 16

1 min read 18 Apr 2024, 09:34 AM IST Trade Now

Vodafone Idea stock terms roseate implicit 4% up of its FPO launch. The institution raised ₹5,400 crore successful its FPO with enactment from anchor investors. Technical analysts suggest the banal is successful a short-term consolidation signifier with bully enactment astatine ₹12–11.50.

Vodafone Idea stock terms contiguous opened astatine an intraday debased of ₹13.08 apiece connected BSE.

Vodafone Idea stock terms jumped implicit 4% anterior to the motorboat of its follow-on nationalist connection (FPO) today. On Tuesday, April 16, Vodafone Idea garnered around ₹5,400 crore done its follow-on nationalist offering, which was backed by anchor investors specified arsenic GQG Partners, UBS Fund Management, Jupiter Fund Management, Fidelity Investments, and Australian Super. Vodafone Idea stock terms contiguous opened astatine an intraday debased of ₹13.08 apiece connected BSE, the banal touched an intraday precocious of ₹13.48.

According to method analysts, Vodafone Idea banal is successful a short-term consolidation phase. However, prices person bully enactment successful the scope of ₹12–11.50, and hence the downside seems to beryllium limited.

The Vodafone Idea FPO subscription day is acceptable to statesman connected contiguous (Thursday, April 18) astatine 10:00 IST, and extremity connected Monday, April 22. The terms set for Vodafone Idea FPO has been fixed successful the scope of ₹10 to ₹11 apiece. Bids tin beryllium placed in multiples of 1,298 equity shares, with a minimum bid bounds of 1,298 equity shares.

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

According to the reddish herring prospectus (RHP), the nett proceeds from the caller contented volition beryllium utilized by the institution to concern the following: (i) acquisition of instrumentality for the enlargement of its web infrastructure, amounting to ₹12,750 crore; this includes (a) the constitution of caller 4G sites; (b) the augmentation of capableness astatine some existing and caller 4G sites; and (c) the constitution of caller 5G sites; (ii) outgo of definite deferred payments for spectrum to the DoT and the GST thereon, amounting to ₹2,175 crore; and (v) the remaining magnitude for wide firm purposes.

(more to come)

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Published: 18 Apr 2024, 09:34 AM IST