Investors saw a profit of about Rs 3,250 per lot of Vodafone Idea in the early session on Wednesday. Compared to the issue price of Rs 11 per share, this marked a 22.70% increase.
Trading in FPO shares begins at 9:15 am, the usual market opening time, after the pre-opening session. However, IPO shares usually commence trading at 10 am, following settlement at 9:45 am in the pre-market session.
Heavy trading volumes were witnessed on both BSE and NSE, with over 47.63 crore shares (Rs 612.76 crore) traded on BSE and 313.54 crore shares (Rs 3,906.72 crore) on NSE as of 9:38 am on Thursday.
Shivani Nyati, Head of Wealth at Swastika Investmart, said that the listing at around Rs 12 shows modest growth from the issue price, indicating initial selling pressure for short-term gains.
However, she suggested that a drop below Rs 11 is unlikely due to the company's potential for turnaround. Read more:
