Vodafone Idea Follow-On Public Offering achieves full subscription

According to market analysts, company shares are trading at approximately ₹12.30 each in the grey market today, marking a ₹0.20 decrease from last Friday’s closing price. Despite the bearish market sentiment throughout the week, except for Friday, both the company share price and the grey market premium (GMP) for thecompany FPO indicate a return of over 10 percent for investors, which is commendable. Market observers anticipate a potential increase in the company FPO GMP today if the upward momentum continues during Monday’s trading session.

Geojit Finance’s report assigns a ‘subscribe’ recommendation to the company FPO, noting, “While acknowledging the near-term challenges such as sustained losses and potential subscriber attrition due to limited 4G service expansion compared to competitors, VIL poses a high-risk opportunity in the short to medium term. Its long-term prospects hinge on debt restructuring and the growth of 4G & 5G services. Backed by robust parental support, we recommend a ‘subscribe’ rating for high-risk investors with a long-term horizon.”