Vodafone Idea Ltd (VIL) has raised Rs 5,400 crore from domestic and overseas anchor investors ahead of its follow-on public offering (FPO) that will open for subscription on Thursday.
Those who were allotted shares include GQG Partners Emerging Markets Equity Fund, Fidelity, UBS Fund Management, Abu Dhabi Investment Authority, Australian Super, Troo Capital, Morgan Stanley, Citigroup Global Markets Mauritius and Jupiter Fund Management.
Additionally, domestic investors, including Motilal Oswal Mutual Fund, HDFC Mutual Fund, SBI General Insurance and Quant Mutual Fund were allocated shares in the anchor round.
In all, there were 74 such institutional investors.
VIL said in a regulatory filing to the exchanges on Wednesday that it has allotted 490.9 crore shares to 74 funds at Rs 11 per share. This translated into a transaction size of Rs 5,400 crore.
Of the total allocation to anchor investors, 79.52 crore shares, or 16.2 per cent of the total, were allocated to five domestic mutual funds through a total of 11 schemes.
Rajiv Jain-led GQG has subscribed to shares worth nearly Rs 1,348 crore. Fidelity followed it with an investment amount of over Rs 770 crore. Troo Capital put in nearly Rs 332 crore and Australian Super Rs 130 crore.
GQG Capital shot into the news for its investment in four Adani companies back in March 2023 when the conglomerate was hit by the damaging Hindenburg report. Since then Adani group shares have risen, resulting in big gains for Jain from these investments.
The Rs 18,000-crore FPO of Vodafone Idea will conclude next Monday. It will be the biggest FPO in the country. The price band has been set at Rs 10-11 per share.
