Non-promoter portion of Idea-Voda issue receives good response: S Ramesh, Kotak Investment

I am hoping that the investors also make returns which if the sector dynamics play out well, should be a reasonable probability, said S Ramesh, MD & CEO, Kotak Investment Banking, in an interview with ETNOW. Ramesh was discussing the smooth sailing of Idea-Voda rights issue.

Edited excerpts:

The massive Idea-Vodafone issue has sailed through. Is it an indication that investors feel that the worst is behind the telecom sector?

The company has just given a clarification on the stock exchange. Based on preliminary information and estimates that they have, the issue has gone through successfully. It is not just subscribed, it looks like the response has been good, so that is the first point. The second point is that there are two three factors as to why we saw interest from institutional and non-institutional investors.