MUMBAI (Reuters) -Investment firm GQG Partners and State Bank of India Mutual Fund are considering investing up to $800 million in total in a $2.16 billion share offering of Indian telecom firm Vodafone Idea, according to two people familiar with the matter. U.S.-based GQG, run by India-born executive Rajiv Jain, plans to invest about $500 million, while SBI Mutual Fund is considering an investment of $200 million to $300 million in the follow-on public offering, said both people, who declined to be named as the plans are confidential. GQG and SBI declined to comment while Vodafone Idea did not respond to queries seeking comment.
The market regulator has asked the MF houses to publish the stress test results on their respective websites by the 15th of every month. The main purpose of the stress test was to make mid and smallcap investors aware of the risks associated with and the impact of volatility on the portfolio.
Investment firm GQG
Partners and State Bank of India Mutual Fund are considering
investing up to $800 million in total in a $2.16 billion share
offering of Indian telecom firm Vodafone Idea,
according.
Vodafone Idea share price: During the initial session, the stock slipped 5.41 per cent to hit a day low of Rs 12.23. It later rebounded 8.42 per cent from day's low value to hit Rs 13.26-level.
Stock-specific action is expected as India Inc begins sharing its report card for Q4 as well as FY 24. TCS will be first off the block, with numbers expected after market hours today