Vodafone Idea FPO Debuts on Bourses with 25% Premium

Vodafone FPO lists at 25% premium to issue price

The follow-on public offer of Vodafone Idea which closed for subscription on 22nd April 2024 sawt eh basis of allotment getting finalized on 23rd April 2024. The refunds and the demat credits were initiated and completed on 24th April 2024, while the fresh FPO shares of Vodafone Idea Ltd listed on the NSE and the BSE today on 25th April 2024. Since the shares were already listed on the stock exchange the shares will continue to trade under the existing NSE Trading Code (IDEA) and the BSE trading code (532822) and the stocks will continue to be held under the ISIN Code (INE669E01016). Being entirely fresh offer for shares, the capital of Vodafone Idea will expand by 1,750.91 crore shares (which includes the anchor allotment and the overall allotments across QIB, HNI / NII, and Retail portions.

Retail gets firm allotment of shares in the Vodafone Idea FPO

The FPO of Vodafone Idea Ltd had a face value of ₹10 per share the price band for the FPO had been fixed in the price band ₹10 to ₹11 per share. Considering the robust subscription at 6.36 times of the FPO public portion overall, the price for the FPO was fixed at the upper band of ₹11 per share. The interesting point is that the retail portion was not fully subscribed hence every valid application in the FPO of Vodafone Idea Ltd got full allotment against their application. Let us turn to what the returns were like.

How did the Vodafone FPO allottees fare on NSE?

On the NSE, the stock of Vodafone opened for trading on 25th April 2024 at a price of ₹13.75 per share which represents a premium of 25% over the FPO discovered price of ₹11 per share. In the first 2 hours of trading on the NSE, the stock of Vodafone Idea Ltd touched a high price of ₹14.40 per share and a low price of ₹11.90 per share. However, at 11.25 am, the stock was trading at a price of ₹13.40, which represents a gain of 21.82% on the FPO price, which is very attractive returns in around one week time frame. As of 11.25 am on the NSE, the stock of Vodafone Idea had seen traded volumes of 12,005 lakh shares with a turnover of ₹1,604 crore. For the day, the stock has an upper band price of ₹15.05 and a lower band price of ₹11.15. Let us not turn to the performance on the BSE.

How did the Vodafone FPO allottees fare on BSE?

On the BSE, the stock of Vodafone opened for trading on 25th April 2024 at a price of ₹12.00 per share which represents a premium of 9.09% over the FPO discovered price of ₹11 per share. In the first 2 hours of trading on the BSE, the stock of Vodafone Idea Ltd touched a high price of ₹13.50 per share and a low price of ₹12.00 per share. However, at 11.30 am, the stock was trading at a price of ₹13.42, which represents a gain of 22% on the FPO price, which is very attractive returns in around one week time frame. As of 11.30 am on the BSE, the stock of Vodafone Idea had seen traded volumes of 12,043 lakh shares with a turnover of ₹1,623 crore. For the day, the stock has an upper band price of ₹15.05 and a lower band price of ₹11.13.

For retail investors in the FPO of Vodafone Idea, it has been a good combination of a firm allotment and a bumper listing on the bourses.