Vodafone Idea FPO English news | Vodafone Idea FPO, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Vodafone Idea's recent Follow-on Public Offering (FPO) has made waves in the market, with its share price opening at a 7.27% premium on the National Stock Exchange (NSE) and a 9% surge on the Bombay Stock Exchange (BSE). The FPO, which commenced on April 18 and concluded on April 22, saw overwhelming subscription, raising a staggering ₹18,000 crore. Promoter Kumar Mangalam Birla, Chairman of Aditya Birla Group, expressed confidence in Vodafone Idea's role in India's digital narrative, emphasizing the robust participation from both domestic and foreign investors.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. Vdafone Idea IPO garnered ₹18,000 crore in India's largest-ever FPO, with the issue being subscribed nearly seven times over after institutional investors flooded the market with funds. Non-institutional investors subscribed for 4.54 times the shares set aside for them, while qualified institutional buyers sought 19.31 times the shares. The largest portion of the shares were offered to retail investors, who bid somewhat more than that amount. Given the company's potential for recovery, a decline below ₹11 appears improbable.After this early volatility, encouraging signals and prospective tariff increases following the election may spur more purchases. Investors that are aggressive and have a long-term perspective may choose to hang onto the stock in anticipation of a future increase to about ₹18, advised Nyati. Vodafone Idea FPO GMP or grey market premium is ₹1.40. The fresh shares being issued under the FPO will likely be listed at ₹12.4, representing a gain of 12.73% over the upper limit of the price band, according to investorgain.com.

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Vodafone Idea FpoFOLLOW

Vodafone idea fpo, Latest News

Business :Vodafone Idea Shares Rise 3% on Market Recovery as Small Cap Stocks Shine

Shares of Vodafone Idea Ltd (NSE: IDEA) climbed 3% to ₹11.48 on Wednesday, up from the previous close of ₹11.13. ... ...

Business :Vodafone Idea FPO: Share Price Surges To 7.27% on NSE, Raises ₹18,000 Crore in Record FPO

Vodafone Idea's recent Follow-on Public Offering (FPO) has made waves in the market, with its share price opening at ... ...