Vodafone Idea’s FPO:
Vodafone Idea‘s FPO shares opened at Rs 11.80 each, showing a 7.27% rise on the NSE from the issue price of Rs 11. On the BSE, they debuted at Rs 12 per share today, indicating a 9% increase from the issue price.
The subscription period ran from Thursday, April 18, to Monday, April 22. Vodafone Idea, India’s third-largest telecom provider, attracted significant investor attention. The final offering price was set at Rs 11 per share, at the upper limit of the price range of Rs 10-11.
“Vodafone Idea’s FPO debuting around Rs. 12 represents a modest uptick from the issue price, indicative of early selling pressures geared towards short-term profits,” explained Shivani Nyati, Head of Wealth at Swastika Investmart.
Nyati further suggested that despite this initial volatility, a dip below Rs. 11 appears improbable considering the company’s prospects for turnaround. She also noted that positive indicators and the potential for tariff increases post-election could spark renewed interest, particularly among assertive investors eyeing long-term gains.
For those with a strategic outlook, Nyati advised holding onto the stock, foreseeing a possible climb towards Rs. 18 in the future.
