Vodafone Idea FPO off to a cautious start: Issue booked 26% on day 1 led by QIBs; GMP and other details.

At the end of day one, the retail portion had 6% subscriptions, the QIB quota had 61% subscriptions, and the non-institutional investor category had 28% subscriptions.

Also Read: Vodafone Idea FPO: 10 key things to know about ₹18,000-crore issue as anchor book opens today

“Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!

View Full Image

Backed by anchor investors like GQG Partners, UBS Fund Management, Jupiter Fund Management, Fidelity Investments, and Australian Super, Vodafone Idea’s follow-on public offering brought in around ₹5,400 crore.

On Thursday, Vodafone Idea share price ended 2.17% higher at ₹13.20 apiece on BSE.

The price band for Vodafone Idea FPOis set in the range ofRs 10 to ₹11 per unit. Bids can consist of multiples of 1,298 equity shares, with a minimum bid limit of that amount.

Also Read: Vodafone Idea FPO opens today. Should you bid? Here’s what GMP, experts say about the ₹18,000-crore issue

Vodafone Idea FPO subscription status

Vodafone Idea FPO has received bids for 3,31,24,63,550 shares against 12,60,00,00,001 shares on offer, according to data from the BSE.

The FPO’s retail investors’ segment received bids for 38,39,79,552 shares against 6,30,00,00,000 shares on offer for this segment.

The NIIs portion got bids for 74,90,17,390 shares against 2,70,00,00,000 on offer for this segment.

The QIBs segment got bids for 2,17,94,66,608 shares against 3,60,00,00,001 on offer for this segment.

Also Read: Vodafone Idea FPO: Shares jump 4% after rise in GMP. Should you apply?

Vodafone Idea FPO GMP today

Vodafone Idea FPO GMP or grey market premium is ₹1.50. The anticipated listing price for VI FPO is ₹12.55, representing a gain of around 13.64%, according to investorgain.com.

The IPO GMP trend shows no significant change, consistent with the previous seven sessions’ grey market activities. This pattern is expected to continue until the day of listing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Also Read: Vodafone Idea share price jumps over 4% ahead of FPO

Vodafone Idea FPO details

The Vodafone Idea FPO total offer size comprises of fresh issue of equity shares aggregating up to ₹18,000 crore.

According to the red herring prospectus (RHP), the net proceeds from the new issue will be used by the company to finance the following: (i) acquisition of equipment for the expansion of its network infrastructure, amounting to ₹12,750 crore; this includes (a) the establishment of new 4G sites; (b) the augmentation of capacity at both existing and new 4G sites; and (c) the establishment of new 5G sites; (ii) payment of certain deferred payments for spectrum to the DoT and the GST thereon, amounting to ₹2,175 crore; and (v) the remaining amount for general corporate purposes.

The issue’s registrar is Link Intime India Private Ltd, and the book running lead managers of the VI FPO are Axis Capital Limited, Jefferies India Private Limited, and SBI Capital Markets Limited.

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

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!

Published: 18 Apr 2024, 05:40 PM IST