Telecom Sector

ATC Telecom Infrastructure had a 2.87% investment in VI after converting debentures into equity.

Rajiv Jain's GQG Partners, which had invested almost ₹1,350 Crore in Vi's anchor book, continued to back the FPO on Monday.

The Indian government, which owns 32% of Vodafone Idea (Vi), expressed complete support for the carrier's fundraising efforts on Tuesday.

Chief executive Akshaya Moondra stated that the ₹18,000 Crore follow-on share offer will reduce the government interest to 24%.

It previously announced on Friday that the sale of fresh shares will take place between April 18 and April 22.

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Vodafone Idea is trying to raise roughly ₹15,000-20,000 Crore through a Follow On offer, which the board approved in February.

The deal reduced Singtel's effective ownership in Bharti Airtel from 29.8% to 29%.

The company's IPO garnered exceptional interest from investors, with the subscription reaching nearly 130 times.

The fundraising strategy aims to optimize by considering various avenues and pricing methods for new shares.