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Vodafone Idea rises despite getting nod to launch up to Rs 18,000 crore FPO
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Vodafone Idea is currently trading at Rs. 13.17, up by 0.21 points or 1.62% from its previous closing of Rs. 12.96 on the BSE.
The scrip opened at Rs. 12.95 and has touched a high and low of Rs. 13.40 and Rs. 12.76 respectively. So far 79795666 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 18.42 on 01-Jan-2024 and a 52 week low of Rs. 6.01 on 18-Apr-2023.
Last one week high and low of the scrip stood at Rs. 13.99 and Rs. 12.23 respectively. The current market cap of the company is Rs. 66358.64 crore.
The promoters holding in the company stood at 48.91%, while Institutions and Non-Institutions held 36.67% and 14.42% respectively.
Vodafone Idea has received approval to launch up to Rs 18,000 crore follow-on public offer (FPO). The shareholders can bid for the FPO between April 18, 2024 and April 22, 2024. The Capital Raising Committee in its meeting held on April 12, 2024 approved the price band for the FPO issuance.
The higher end of the price band i.e. Rs 11 is at a discount of 26% compared to recently approved preferential issue price to the promoter entity at Rs 14.87 and a discount of 15% compared to last closing price of Rs 12.95.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
