Vi’s FPO receives 26 per cent subscription on first day of bidding

Vodafone Idea Limited’s (Vi) follow-on public offer (FPO) worth Rs 180 billion has been subscribed 26 per cent on the first day of bidding, largely driven by strong demand from qualified institutional buyers (QIBs). However, the non-institutional investors (NIIs) portion saw modest demand, while the retail segment saw relatively weaker interest.
The QIB portion was subscribed 61 per cent on the opening day. Typically, QIBs tend to bid on the final day of the offer. The majority of bids in the QIB portion came from foreign institutional investors (Flls). In addition, the NII portion, for high net-worth individual investors, was subscribed at 28 per cent, while the retail segment saw just 0.06 per cent subscription.