US Stock Reports, Quotes and News
Vodafone Idea\’s shares surged 4% to Rs 13.48 as its Rs 18,000 crore follow-on public offer opened, attracting strong interest from anchor investors like GQG Partners. However, analysts advise caution for retail investors, citing concerns about the company\’s debt burden.
Now, in terms of the discussions with these investors, I believe, everybody is convinced about the India story. Everybody is convinced about the India telecom story because the industry today has a very right structure with three private players.
The public offering, which closes on April 22, has been priced in the band of ₹10-11 apiece, which is 17-29% below the stock\’s Tuesday closing price of ₹12.9. Financial markets were shut on Wednesday for Ram Navami.
Now, in terms of the discussions with these investors, I believe, everybody is convinced about the India story. Everybody is convinced about the India telecom story because the industry today has a very right structure with three private players.
Vodafone Idea plans an Rs 18,000 crore FPO on April 18, attracting GQG Partners with $300-400 million bids. Analysts cautious due to profit concerns, low listing expectations, capex needs, 5G delay, and industry challenges.
Vodafone Idea\’s ₹5,400-crore offer to anchor investors was fully subscribed, with support from various foreign institutional investors, domestic mutual funds, and the Government of India. This fundraising effort aims to strengthen the telco\’s financial position and support its future plans.
Vodafone Idea plans an Rs 18,000 crore FPO on April 18, attracting GQG Partners with $300-400 million bids. Analysts cautious due to profit concerns, low listing expectations, capex needs, 5G delay, and industry challenges.
The Nifty fell 246.9 points, or 1.1%, to 22,272.50. The Sensex declined 845.12 points, or 1.14%, to 73,399.78 in a volatile trading session that saw mixed responses across the Asia-Pacific to this weekend\’s Iranian drone attacks on Israel. China advanced 1.26%, Hong Kong fell 0.73%, South Korea declined 0.42%, and Taiwan dropped 1.38%.
The US-based GQG is planning to invest about $500 million, while SBI Mutual Fund is considering an investment of $200-300 million in the FPO, the report said further.
Vodafone Idea\’s board approved a Rs 18,000 crore public offering. The FPO opens on April 18. The stock has seen one-year returns to the tune of 108%.
Vodafone Idea FPO: Telecom operator announces Rs 18,000 crore FPO with shares priced at Rs 10-11. Vodafone shares dip 3% to Rs 12.51. Vi likely to report 4.5 million subscriber loss. ARPU set to rise 1.1%.