Vodafone Idea target price: For BofA Securities, VIL is not a Buy as it is further awaiting clarity on funding position improvement post FY26 as the spectrum moratorium ends.
If added, Vodafone Idea shares may attract $213 million inflows, followed by Oberoi Realty, Zydus Lifesciences and Prestige Estates, which may see $136-137 million inflows.
Vodafone Idea shares tumbled 10% to Rs 11.8 in Thursday s NSE trading session following the listing of its follow-on public offer (FPO) shares on the bourses. However, the shares opened at a 7.2% premium compared to their FPO issue price of Rs 11.
The total market capitalization of Vodafone Idea briefly topped Rs 90,000 crore mark on Thursday at a price of Rs 13.50, after the listing of its recently issued securities.
The Rs 18,000 crore FPO, which is the largest India has seen so far, received decent from investors overall, but most of the heavy listing was done by institutional and non-institutional investors.