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3 min read | Updated on April 23, 2024, 11:41 IST
SUMMARY
The investors, who submitted bids for Vodafone Idea FPO, can check the share allotment status online via the official website of the issue's registrar, Link Intime India Private Limited, and the NSE. Vodafone Idea FPO listing date is tentatively scheduled as April 25, 2024.
Vodafone Idea FPO share allotment expected today: Steps to check status online
Vodafone Idea FPO share allotment status is expected to be finalised by the company today, April 23.
The follow-on public offer of Vodafone Idea was subscribed over 6 times on the final day of bidding on Monday, April 22. The telco received bids for 8,012 crore shares against 1,260 crore shares on offer.
The retail category of the FPO was booked 92% with bids for 576 crore shares against 630 crore shares on offer. The Non-Institutional Investors’ portion was subscribed 1.41 times. Investors submitted bids for 1,268 crore shares compared to 270 crore shares offered in this category.
Vodafone Idea FPO subscription was led by a strong demand from qualified institutional buyers. The telco received bids for 6,321 crores against 360 crore shares reserved for QIBs, resulting in an oversubscription of 17.56 times.
After successful closure of the bidding process, the investors are now awaiting the share allocation status. The investors, who submitted bids for Vodafone Idea FPO can check the allotment status online via the official website of the issue's registrar, Link Intime India Private Limited, and the NSE.
The ₹18,000 crore Vodafone Idea FPO is said to be the biggest follow-on offers in India so far. It is a 100% book-built issue consisting of a fresh issue of 1,636.36 crore shares. The Vodafone Idea FPO price band was set in the range of ₹10-11 per share. Retail investors were allowed to submit bids with a minimum lot size of 1,298 shares totalling to an investment of ₹14,278.
Ahead of the FPO subscription, Vodafone Idea raised ₹5,400 crore at the cap price of ₹11 per share from anchor investors. The anchor investment round participation from global investors including US-based GQG Partners, Motilal Oswal, Fidelity Securities, Abu Dhabi Investment Authority, UBS Fund Management, Troo Capital Ltd, Morgan Stanley, and Citigroup Global Markets Mauritius
Proceeds from the FPO will be utilised for the purchase of equipment to expand network infrastructure and deferred payments for spectrum to the Telecommunications Department. A portion of the money raised will be used for general corporate purposes.
Vodafone Idea is the third largest telecom company in India in terms of number of subscribers. The company offers voice, data, SMS, and digital services using 2G, 3G, and 4G technologies.
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