The opening price of Vodafone Idea’s FPO shares on the NSE was Rs 11.80 per share, which represents a 7.27% rise over the issue price of Rs 11. Vodafone Idea’s FPO share price began at Rs 12 on the BSE today, up 9% from the issue price.
Vodafone Idea FPO shares: Significant investor interest was shown in Vodafone Idea, the third-largest telecom operator in the nation, during the subscription period that began on Thursday, April 18, and ended on Monday, April 22. Each share’s final offering price was fixed at Rs 11, which is at the upper end of the Rs 10-11 price range.
With its FPO earning Rs 18,000 crore, Vodafone Idea’s was the biggest FPO in India’s history. The offering was significantly oversubscribed by over seven times, thanks to the large infusion of capital into the market by institutional investors.
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Individual investors purchased 4.54 times as many shares as were allotted to them, whilst institutional buyers who met the eligibility requirements purchased 19.31 times as many shares. The majority of the shares were allotted to retail investors, who placed a bid that was marginally more than that sum.
Vodafone Idea Analyst
Vodafone Idea’s FPO listing at about Rs. 12 represents a slight increase over the issue price, but it also shows that there was immediate selling pressure for quick profits. Shivani Nyati, Head of Wealth at Swastika Investmart, stated that a decline below Rs. 11 looks improbable considering the company’s potential for turnaround.
According to Nyati, after this early volatility, favorable signals and possible tariff hikes following the election could spur more purchases. Those with a long-term, aggressive investment strategy may want to hang onto the stock in anticipation of a future increase to approximately Rs. 18.
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