Vodafone Idea Rebounds From Lower Circuit After FPO Shares List

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Vodafone Idea Rebounds From Lower Circuit After FPO Shares List

Vodafone Idea hit a lower circuit of 10% at Rs 11.80 after the listing of fresh shares that were allotted in the follow-on public offer (FPO). It, however, pared the losses quickly to trade 1.53% lower at Rs 12.90, which is above its issue price of Rs 11 per share.It is noteworthy that the Vodafone Idea board approved the issue price of Rs 11 per share for its Rs 18,000-crore follow on public offer. The FPO issue was subscribed 6.36 times with q…