Vodafone Idea FPO: At ₹18,000 crore, the largest follow-on public offer ever in India was fully subscribed today, the last day, with investors lapping up as many as 1,289.8 crore equity shares, according to the data available on stock exchanges. This happened in the afternoon itself. Notably, Vodafone Idea is on a huge fund-gathering drive with the total amount pegged as high as ₹45000 crore via both equity and debt routes. Vodafone Idea is the third largest telco in India after Reliance Jio and Bharti Airtel.
While retail investors have been quite wary of the FPO, there was no such hesitation seen in the non-institutional investors (NIIs) as they took up 2x offer in their quota. Qualified institutional buyers (QIBs) too oversubscribed to the FPO by as much as 1.34x. The retail investors have so far taken up just 43 percent of their allotment. Earlier, it was reported that ₹5,400 crore was raised from anchor investors with investment firms GQG and Fidelity doing most of the heavy lifting. In fact, over ₹12000 crore was raised by the end of day 2 by Vodafone Idea including the above figure.
Vodafone Idea share price, which has been on a losing trend over the recent months, was today quoting at ₹12.25 down 5.04% at 13.34 p.m.
