Vodafone Idea FPO | Vodafone Idea FPO Allotment Know Subscription Status And Share Price

Vodafone-Idea’s FPO subscription window closed on Monday, April 22. When the allotment process is completed on Tuesday, it will be known how many shares have fallen to the investors. The country’s third largest telecom company’s FPO subscription status was 6.36 times on the last day. 8,011.8 crore equity shares were bid on the last day. Besides, eligible institutional buyers subscribed 19.3 times the share allotted to them. Vodafone-Idea brought the FPO to raise Rs 18,000 crore from the market on April 18. The telecom company issued 1,260 crore new shares through FPO. At present the company has a huge debt burden on its head. That’s why Vodafone-Idea has adopted this strategy to collect Rs 45,000.
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Vodafone-Idea has profited tremendously from FPO initially, share experts claim. Qualified Institutional Buyers (QIBs) are the first to start subscribing to the shares allotted to them. They subscribed 17.56 times the FPO of the telecom company. On the other hand, non-institutional investors subscribed FPOs 4.13 times their share. And in the case of retail traders, this amount stands at 91 percent.

It may be noted that after the FPO subscription window closed on Monday, the telecom company managed to raise Rs 5,400 crore from institutional investors. This money came through anchor book in Rs 11 price band. The price band of FPO, however, was fixed at Rs 10 to 11.

Vodafone-Idea’s anchor investors include several big names. They are Citigroup, Goldman Sachs, Morgan Stanley, GQG Partners, Fidelity, UBS Fund Management, Redwheel Fund, HDFC Mutual Fund, Government Pension Fund Global, Carnelian Capital, Copthal Mauritius Investment and Societe Generale.

According to VI sources, there are plans to roll out 4G and 5G networks to give competition to telecom companies like Reliance Jio or Bharti Airtel. For this, Vodafone-Idea will spend 12,750 crore from the share sale money. Its price per stock was Rs 12.90 on April 22, the day the FPO subscription closed. The company’s share price has fallen by around 17 percent in the last 3 months.

(Special Note: Investing in stock market is subject to market risk. At this time this report of Digital has tried to give an idea about stocks and FPOs. Invest in shares by following the advice of experts)