Vodafone Idea FPO: After anchor investors, institutional investors rain money on offer

Vodafone Idea may be a struggling company whose fate is not clear, but that is not what some investors think, considering the amount of money that they are throwing at its offer. In fact, after anchor investors poured in money aplenty into it, Vodafone Idea FPO has become the beneficiary of institutional investors’ largesse too.

Crippled by debt, Vodafone Idea’s ₹18,000 crore follow-on offering (FPO) picked up massive momentum on Friday and now it is being reported that close to half of the issue has been subscribed – mostly by institutional investors.

Overall, Vodafone Idea FPO has garnered ₹12,000 crore of which some ₹5,400 crore has come from anchor investors.