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Vodafone Idea Exclusive: ATC Telecom Infra likely seller in ₹2,063 crore block deal
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Vodafone Idea shares worth ₹7,500 crore were marked for delivery on Thursday according to combined data from both BSE and the NSE.
ATC Telecom Infrastructure is the likely seller in the multiple block deals that took place in Vodafone Idea on Friday, sources with knowledge of the matter told CNBC-TV18.
As many as 152.4 crore shares or 3.1% of the company’s total equity changed hands in these trades. The transaction is valued at ₹2,063 crore.
As per the March quarter shareholding pattern, ATC Telecom Infrastructure held a 2.8% stake in Vodafone Idea. Therefore, this block deal is likely to be a cleanout trade from ATC.
ATC had recently converted the debentures allotted by Vodafone Idea into equity.
Shares of Vodafone Idea had gained 6% on Thursday after the shares issued post its follow-on public offer (FPO) began trading on the bourses.
Aditya Birla Group Chairman Kumar Mangalam Birla said that the FPO marks the beginning of VodaIdea 2.0.
“This marks the start of Voda Idea 2.0. The vision of Digital India will continue to drive Vi,” he said, adding the completion of the “largest FPO serves as a turning point for the Indian telecom industry”.
CNBC-TV18 reported on Thursday citing sources that trading in Vodafone Idea’s shares were halted for a few minutes. This happened due to a technical issue, which the exchanges clarified was resolved later.
Vodafone Idea shares worth ₹7,500 crore were marked for delivery on Thursday according to combined data from both BSE and the NSE.
The telecom operator recently raised ₹18,000 crore through India’s largest FPO. The issue saw overall subscription of 7x.
Shares of Vodafone Idea are trading 2.5% lower at ₹13.55. The stock is up 1.5% in the last one month. However, the stock is in the F&O ban at the start of the May F&O series, which means that no new positions can be taken in the stock.
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