VI FPO Listing: Vodafone Idea, facing financial problems, had brought the country's largest FPO to survive in the market. Today its shares have been listed. Under FPO, the company has offered 16,36,36,36,363 shares for Rs 11 each. Due to weak market sentiment, its shares are currently at the price of Rs 13.02 (Vodafone Share price), which means that the investor who invested money in FPO has got a profit of 18 percent. Today it opened for Rs 12 and reached Rs 13.49 intraday. Its FPO did not receive much response from retail investors and the shares reserved for it were only fully filled.

What response did VI FPO get?

Vodafone Idea's Rs 18,000 crore FPO was the biggest FPO in the country so far. After the initial weak trend, this issue may receive good subscriptions based on qualified institutional buyers. The retail investor's part was simply filled. Qualified Institutional Buyers have subscribed 19.31 times, Non-Institutional Investors have subscribed 4.54 times and Retail Investors have subscribed 1.01 times. Overall the issue has been subscribed 6.99 times.

If the FPO becomes successful, then the way for Honda Idea to collect Rs 25,000 crore from banks will be strengthened. Apart from this, the company's position will also be strengthened regarding 4G and 5G. Apart from this, it also helps the company in getting back its subscribers. Rs 5720 crore collected from FPO will be used for 5G. Recently, in a conversation with CNBC-TV18, Vodafone Idea CEO Akshay Mandada had said that the FPO money is enough for the capex plan in the next three years.

What is the attitude of brokerage?

Of the 16 analysts covering Vodafone Idea, 12 have given it a sell or mixed rating. Only IIFL has given it an Ad rating and has fixed its target price at Rs 19 in the bull case. On the chart, it gets support at the 200-day moving average level. Its RSI is currently at 53.