Vodafone Idea Shares: The drop comes in reaction to the follow-on public offering (FPO) anchor book, which will open today.
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Shares of Vodafone Idea dropped as much as 3.95 per cent to hit an intraday low of Rs 12.64 per share. The drop comes in reaction to the follow-on public offering (FPO) anchor book, which will open today.
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Vodafone Idea shares have plunged 25.19 per cent year-to-date (YTD), but have surged 7 per cent in the past 6 months.
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A follow-on offering is an issuance of additional shares made by a company after an initial public offering (IPO). Vodafone Idea’s FPO will open for subscription on April 18 and close on April 22, 2024 with the price band of the issue fixed at Rs 10-11 per share. The company aims to raise Rs 18,000 crore from the FPO.
