Vodafone Idea’s Rs 18,000 crore FPO (Follow-on Public Offering) got subscribed over 6 times (6.36 times) on the final day of bidding today, April 22, data on exchanges showed. According to the data available on BSE, the FPO garnered bids for nearly 80.11 billion shares against 12.6 billion shares on the offer.
As of the final data uploaded at 5:00 PM today, the portion reserved for QIB (Qualified Institutional Buyers) was subscribed 17.56 times, receiving bids for 63.2 billion shares against 3.6 billion shares set aside for them. The NII (Non Institutional Investors) portion was subscribed 4.13 times, while the demand from retail investors remained on the sidelines as the portion set aside for them was subscribed only 91%, data from BSE showed.
Ahead of the FPO, Vodafone Idea had allotted 4.9 billion shares to anchor investors via the anchor book, garnering around Rs 5,400 crore. GQG Partners, Fidelity, Motilal Oswal Mutual Fund were some of the top investors that invested in the anchor book.
Vodafone Idea has said that the company will expand its existing and new 4G sites and further set up new 5G sites with the proceeds received from the FPO. The telecom player will also spend Rs 2,175 crore on deferred spectrum payments to the Department of Telecommunications.