Vodafone Idea FPO Shares to List on Bourses Tomorrow
Vodafone Idea’s follow-on public offer (FPO) shares will list on the stock exchanges on April 25th. The opening price will determine whether the shares debut at a premium or discount. The final issue price was set at Rs. 11 per share, the upper end of the price band.
Vodafone Idea successfully raised Rs. 18,000 crore through the FPO, making it the largest in India’s history. The funds will be used to purchase equipment for new 5G sites, expand the capacity of existing 4G sites, and establish new 4G sites. The telecom company will also use the proceeds for working capital requirements.
Vodafone Idea FPO GMP
The Vodafone Idea FPO GMP (grey market premium) is currently at Rs. 1.75. This indicates that investors are willing to pay more than the issue price for the shares. Analysts expect the shares to list at around Rs. 12.75, representing a gain of 15.91% over the upper limit of the price band.
Vodafone Idea Share Price
On Wednesday, Vodafone Idea’s share price closed at Rs. 13.06 on the BSE, down 9.24%. Analysts believe that the stock is oversold and may see a bounce in the coming days. However, they advise investors to avoid aggressive bets on the stock and to use any bounce to exit long positions.
