Voda Idea slides 5% on setting Rs 10/shr floor price for Rs 18,000 cr FPO

Shares of Vodafone Idea slipped 5 per cent to Rs 12.23 on the BSE in Friday’s intra-day trade amid heavy volumes. This came the company fixed the floor price at Rs 10 per share for its proposed follow on offer (FPO). The cap price of the offer is fixed at Rs 11 per share.

The company’s Rs 18,000 crore FPO is set to open for subscription on April 18 and will close on April 22. The company has set a minimum bid lot of 1,298 equity shares and in the multiples of 1,298 equity shares thereafter, the company said in exchange filing.