Vodafone Idea shares jump nearly 6% on BSE day after its Rs 18k cr FPO fully subscribed

Kolkata: Shares of Vodafone Idea (Vi) jumped over 6% Tuesday on the BSE, a day after the telco’s Rs 18,000 crore follow-on public offer(FPO), India’s biggest, was fully subscribed on the third day, with global institutional investors such as GQG, Capital Group and Fidelity Investments showing strong interest in the telecom company.

The qualified institutional buyers (QIBs) portion, in fact, was subscribed 1.23 times while the non-institutional investors (NIIs) portion and the retail segments were subscribed 1.93 times and 42% respectively.

Shares of Vi were trading 5.51% higher at Rs 13.60 on the BSE in Tuesday morning trade.

Rajiv Jain’s GQG Partners, which had invested nearly Rs 1350 crore in Vi’s anchor book, had continued to invest in the FPO on Monday.

Last week, Vi had raised Rs 5400 crore from 74 anchor investors by allotting 4.91billion shares at Rs 11 apiece.