Vodafone Idea FPO of RS.18000-crore
larger than the Yes Bank FPO of RS.15000-crore, closed on Monday.The FPO shares
will be listed in BSE &NSE on 25th April.
The FPO of telephone operator,
Vodafone Idea was subscribed fully on the third and concluding day owing to the
buying interest of institutional and HNI investors. The RS.18000 crore issue
has a fresh sale of 16,363,636,363 equity shares.
As per data , the total number of
bids were 50,07,11,08,038 equity shares, about 4 times, compared to the
12,60,00,00,001 equity shares open for subscription on Monday.
Vodafone Idea, a telecommunications
player, offers services including voice, data, and value added services on
2G,3G,and 4G technologies.
The tele giant raised
Rs 5400-crore from institutional investors in the upper band of RS.11.The offer
for price band was fixed at RS 10-11 per share.
Goldman Sachs, Morgan
Stanley, Citigroup, Fidelity, UBS Fund Management Redwheel Funds, HDFC
Mutual Fund, Government Pension Fund Global, Copthall Mauritius
Investment, Sociate General were the anchor investors. Motilal Oswal, SBI General
Insurance, and Quant some domestic investors also in line.
Vodafone Idea's stock
closed at RS 12.89 on the BSE on Monday 0.23% lower. It has dipped 17%in the
last three months losing its steam.
What is FPO?
FPO stands for Follow
-On Public Offer. It is a process through which a company that has already been
listed on the bourses goes to the investors issuing new shares to raise funds
for its internal developments. A company goes for FPO for raising additional capital
for the company's expenses and to reduce the existing debt if any. On the other hand, IPO means initial public offer. It is the same process of a company going to the
public to raise capital for the first time before listing.
Reliance Industries Results :
Mukesh Ambani's
Reliance industries recorded a record profits in the financial year 2023-2024
on the back of oil, petrochemicals, telecom and retail businesses. On Monday,
the company told the stock market that the net profit figure for this year
stood at RS.69621-crore. However, the profit for the last January - March quarter
of RS.18,951-crore remained almost unchanged. Reliance Jio Infocom's net profit
for the fourth quarter was Rs.5583 crore. Average Revenue per customer (ARPU)
increased to Rs.181.7.
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