Vodafone Idea FPO subscribed 26% on Day 1
Vodafone Idea’s follow-on public offering (FPO) was subscribed 26 per cent on Thursday, the opening day of the issue. The institutional investor portion of the FPO was subscribed 61 per cent, with bulk of the bids coming from overseas funds. High networth individual portion was subscribed 28 per cent and retail portion 6 per cent. On Wednesday, Vodafone had allotted 4.9 billion shares to anchor investors at Rs 11 apiece — the top end of the price band — to raise Rs 5,400 crore. US-based GQG Partners had subscribed to shares worth Rs 1,347 crore. Other large subscribers included Fidelity, Stichting, Redwheel, Motilal Oswal Mutual Fund, and Troo Capital. Shares of Vodafone on Thursday closed at Rs 13.2.
The FPO remains until Monday.
BSE warns investors against fake videos
After deepfake video of NSE’s chief executive, the miscreants now have floated fake videos of Managing Director and Chief Executive Officer (MD & CEO) of BSE Sundararaman Ramamurthy recommending certain investments and advisory in stocks and shares. The exchange on Thursday cautioned investors against such fraudulent videos and audios created through innovative technology. “BSE will initiate all possible steps to prevent misrepresentation by unknown elements. In the meantime, investors/public are urged not to join any group on social media platform impersonating BSE or its officials and also not rely on any stock/share recommendation,” said the exchange.
Kronox Lab Sciences gets Sebi nod to float IPO
Specialty chemicals company Kronox Lab Sciences has received Sebi’s go-ahead to raise funds through an initial public offering (IPO), an update with the capital markets regulator showed on Thursday. The proposed offer comprises a fresh issue of equity shares worth Rs 45 crore and an offer for sale (OFS) of 7.8 million equity shares by promoters, according to the draft red herring prospectus (DRHP). According to market sources, the estimated IPO size is Rs 150 crore. The company obtained its observations on April 12, the latest update showed.
First Published: Apr 19 2024 | 12:12 AM IST
