The fundaraise is expected to give Vodafone firepower to improve its positioning in the telecom space, where it currently trails larger rivals such as Reliance Jio and Bharti Airtel, by a wide margin.
Vodafone Idea shares closed at Rs 12.85 apiece on April 19, up Rs 1.85 from the upper price band. According to market observers, FPO GMP has remained positive despite weakness in the secondary market.
Vodafone Idea FPO: Telecom operator announces Rs 18,000 crore FPO with shares priced at Rs 10-11. Vodafone shares dip 3% to Rs 12.51. Vi likely to report 4.5 million subscriber loss. ARPU set to rise 1.1%.