The just-concluded follow-on public offer (FPO) of Vodafone Idea Limited (VIL) has not only brought relief to the struggling telecom operator but also to the three investment banks that managed the ₹18,000 crore share sale.
According to the final prospectus filed by the Mumbaibased firm, it has paid ₹287 crore, 1.6 per cent of the issue size, as book running lead manager (BRLM) fees.
This, according to PRIME Database, is the second-highest BRLM fee paid for a domestic FPO or an initial public offering (IPO).
The record is held by One 97 Communications (Paytm), which paid ₹324 crore in such fees following its 18,300-crore IPO in November 2021. That offering, however, was a disappointment, with shares plunging 27 per cent on debut, marking the worst first-day performance for an IPO of ₹1,000 crore or more.
This story is from the April 27, 2024 edition of Business Standard.
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This story is from the April 27, 2024 edition of Business Standard.
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