Vodafone Idea Limited’s (Vi) follow-on public offer (FPO) has been subscribed fully on the last day of bidding, driven by healthy interest from institutional and non-institutional investors (NIIs), both of which are fully subscribed.
The qualified institutional buyer (QIB) portion of the share sale was bought 17.6 times, with 82 per cent of the bids coming from foreign portfolio investors (FPIs). In addition, the high net worth individual (HNI) portion of the offer garnered 4.13 times subscription. However, the retail portion remained undersubscribed, garnering bids for just 91 per cent of shares on offer. Despite this, the FPO attracted over 1.1 million applications.
According to market sources, GQG Partners, which had subscribed for shares worth Rs 13.47 billion in the anchor quota, applied for additional shares in the main book of the FPO.
