Vodafone Idea falls 4%; Rs 18,000-crore FPO anchor book to open today
.webp)
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.
Vodafone Idea shares have plunged 25.19 per cent year-to-date (YTD), but have surged 7 per cent in the past 6 months.
Cash-strapped Vodafone Idea, from its Rs 18,000 crore FPO, aims to boost existing 4G sites, and set up new 4G sites and 5G sites. Vodafone Idea will also use the funds to pay off certain deferred payments for spectrum to the DoT and the GST thereon.
Vodafone Idea will also be rolling out 5G services after its FPO funding, said Akshaya Moondra, chief executive officer on Monday, April 15, during FPO press conference. He further said that the telco is equipped with a 5G-ready radio architecture.
In terms of key performance indicators, Vodafone Idea is struggling to keep up with Bharti Airtel and Reliance Jio. The company’s subscriber market share is merely 18.8 per cent as compared to 36 per cent and 45.5 per cent for Airtel and Jio, respectively.
Vodafone Idea is the 3rd largest telecommunications service provider in India based on subscriber base.
The company, through its pan India network, offers voice, data, enterprise and other value-added services, including short messaging services and digital services across 2G, 3G and 4G technologies.
Vodafone Idea also offers connectivity services to enterprise customers. The company holds active licences for national long distance (NLD), international long distance (ILD) and internet service provider (ISP), and registration for infrastructure provider (IP-1) services.
As of 10:11 am, shares of Vodafone Idea were trading 2.89 per cent lower at Rs 12.78 apiece.
Other Latest News
.webp)
Shares of YES Bank climbed as much as 8.98 per cent to hit an intraday high of Rs 28.50 apiece on Monday, after the private lender announced a strong set of March quarter results (Q4FY24).
YES Bank’s profit jumped over 123 per cent to Rs 452 crore in Q4FY24, as opposed to Rs 202.43 crore reported in Q4FY23.
.webp)
The Congress on Monday attacked the BJP over the alleged sex scandal involving the grandson of JD(S) supremo H D Deve Gowda, with party leader Priyanka Gandhi Vadra asking whether Prime Minister Narendra Modi will remain silent on the matter.
The opposition party also asked why the BJP went ahead with its alliance with the JD(S) when a BJP leader had written to the party's Karnataka unit president, exposing the presence of a pen drive full of "sleaze videos of Prajwal Revanna".
.webp)
China is gearing up to launch a robotic spacecraft on a mission to bring back samples from the dark side of the moon. This mission is prelude to three challenging missions aimed at achieving a Chinese crewed landing and establishing a base on the lunar South pole. And it will also be the world's first attempt at collecting samples from the other side of the moon.
Since the inaugural Chang’s mission in 2007, named after the legendary Chinese moon goddess, China has made substantial strides in its lunar exploration efforts, narrowing the technological divide with the United States and Russia.
.webp)
The Japanese yen hit its weakest levels since April 1990 on Monday, in trading thinned by a holiday in Japan and attempts by traders to test key levels and stop-loss orders in a nervous, illiquid market.
The dollar rose as far as 160.245 yen in a sudden move after the yen traded in a narrow 158.05-158.15 range in early deals.
.webp)
Veteran politician, BJP MP and former Union Minister V Sreenivasa Prasad died on Monday, family sources said.
The 76-year-old Lok Sabha member from Chamarajnagar was ailing for some time and being treated at a private hospital, where he passed away early today.
.webp)
.webp)
.webp)
.webp)
.webp)
