Vodafone Idea Share Price: Trading stopped for few minutes due to technical issue

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Trading on Vodafone Idea Ltd. was halted for a few minutes at around 10 am on Thursday (April 25) after a technical glitch hit the trading system.

The trading in VIL was stopped due to technical issue. Additionally, the pending orders were also canceled, sources confirmed to CNBC-TV18.

Exchanges issued a clarification saying the trading has resumed and is functioning normally now.

To recall, the follow-on-public offering (FPO) of Vodafone Idea was opened for bidding between April 18 and April 22. The company had offered its shares in the fixed price band of ₹10-11 per share. The lot size was 1,298 shares.

The Aditya Birla Group company raised ₹18,000 crore in India’s largest ever FPO so far, after securing a substantial investment from institutional investors.

Vodafone Idea will utilise ₹12,750 crore of the net issue proceeds for the expansion of the network infrastructure by setting up new 4G and 5G sites and the expanding the capacity of existing 4G sites.

Established in March 1995, Vodafone Idea is a telecommunications player, which provides voice, data, and value-added services across 2G, 3G, and 4G technologies, such as short messaging and digital services for enterprises and consumers. It offers mobile and fixed services to more than 30 crore customers in 17 countries.

At 11:55 am, the VIL stock was trading 2.67% higher at ₹13.45 apiece on the NSE.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow