Vodafone Idea Limited (Vi) has raised Rs 54 billion from nearly 60 anchor investors, making it the third largest anchor book after One 97 Communications and Life Insurance Corporation.
According to sources, institutions such as GQG Partners, UBS, Morgan Stanley Investment Management, Australian Super, Fidelity, and domestic mutual funds like Quant and Motilal Oswal were among those that subscribed to the Vi’s anchor book.
Sources further indicate that over 70 per cent of the anchor investors are foreign institutions.
Furthermore, Vi has plans to raise as much as Rs 180 billion through follow-on public offering (FPO), which will open on April 18, 2024 and close on April 22, 2024. The telco has priced the issue at Rs 10-11 a share. At the higher end of the band, the issue is priced at around a 26 per cent discount to the Rs 14.87 share that was recently set for the preferential issue to one of the promoters.
