Voda Idea Rs 25,000-cr rights issue fully subscribed, will help cut debt

Market players said the attractive discount of 27 per cent to closing price of Wednesday prompted most existing investors to subscribe

Merged telecom operator Vodafone Idea’s Rs 25,000-crore rights offering has garnered full subscription, investment bankers handling the share sale said. “The rights issue has seen more demand than shares on offer. In fact, the non-promoter portion of the issue alone garnered more than one time subscription,” said an investment banker involved in the issue.

Wednesday was the last day to apply for the rights offering, which had opened for subscription on April 10. In terms of amount mobilised, the Vodafone Idea rights offering will be among the biggest equity offerings in the Indian markets.

The rights issue was priced at Rs 12.5