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<part class="container article-section status_prime_article single-post currentlyInViewport inViewPort" id="news_dtl_109248499" data-article="0" page-title="GQG, SBI funds eye investments in Vodafone Thought $2.16 bln share sale: Stories" data-href="https://telecom.economictimes.indiatimes.com/information/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499" data-msid="109248499" data-news="{"hyperlink":"/information/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","seolocation":"/information/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","seolocationalt":"/information/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","seometatitle":false,"seo_meta_description":"GQG and SBI Mutual Fund are contemplating investments beneath the institutional quota of what is going to be India's greatest secondary providing. A remaining resolution on their investments has not been reached.","canonical_url":false,"url_seo":"/information/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","category_name":"Trade","category_link":"/information/trade","category_name_seo":"trade","updated_at":"2024-04-12 17:13:43","artexpdate":"2024-05-12 15:59:21","agency_name":"Reuters","agency_link":"/company/12345678/Reuters","read_duration":"2 min","no_index_no_follow":false,"key phrases":[{"id":21283740,"name":"GQG and SBI funds investments in Vodafone Idea","type":"General","weightage":100,"keywordseo":"GQG-and-SBI-funds-investments-in-Vodafone-Idea","botkeyword":false,"source":"Orion","link":"/tag/gqg+and+sbi+funds+investments+in+vodafone+idea"},{"id":6355120,"name":"Investment","type":"General","weightage":20,"keywordseo":"Investment","botkeyword":false,"source":"Orion","link":"/tag/investment"},{"id":19899016,"name":"Vodafone Idea","type":"General","weightage":20,"keywordseo":"Vodafone-Idea","botkeyword":false,"source":"keywords","meta":{"keywordsubtype":"org","entityname":"Vodafone Idea","hostid":"268","entityid":"Vodafone Idea"},"link":"/tag/vodafone+idea"},{"id":20016893,"name":"GQG Partners","type":"General","weightage":20,"keywordseo":"GQG-Partners","botkeyword":false,"source":"keywords","meta":{"keywordsubtype":"org","entityname":"GQG Partners","hostid":"268","entityid":"GQG Partners"},"link":"/tag/gqg+partners"},{"id":19979725,"name":"SBI Mutual Fund","type":"General","weightage":20,"keywordseo":"SBI-Mutual-Fund","botkeyword":false,"source":"keywords","link":"/tag/sbi+mutual+fund"},{"id":20104809,"name":"share sale","type":"General","weightage":20,"keywordseo":"share-sale","botkeyword":false,"source":"keywords","link":"/tag/share+sale"},{"id":16686400,"name":"gqg","type":"General","weightage":20,"keywordseo":"gqg","botkeyword":false,"source":"Orion","link":"/tag/gqg"},{"id":34974,"name":"Telecom news","type":"General","weightage":20,"keywordseo":"Telecom-news","botkeyword":false,"source":"Orion","link":"/tag/telecom+news"},{"id":20867491,"name":"Rajiv Jain","type":"General","weightage":20,"keywordseo":"Rajiv-Jain","botkeyword":false,"source":"keywords","link":"/tag/rajiv+jain"},{"id":21198681,"name":"5G networks","type":"General","weightage":20,"keywordseo":"5G-networks","botkeyword":false,"source":"keywords","link":"/tag/5g+networks"}],"read_industry_leader_count":false,"read_industry_leaders":false,"embeds":[{"title":"Vodafone Idea to launch Rs 18,000 crore FPO on April 18","type":"image","caption":false,"elements":[]}],"thumb_big":"https://etimg.etb2bimg.com/thumb/msid-109248499,imgsize-934998,width-1200,top=765,overlay-ettelecom/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports.jpg","thumb_small":"https://etimg.etb2bimg.com/thumb/img-size-934998/109248499.cms?width=150&top=112","time":"2024-04-12 17:07:30","is_live":false,"prime_id":0,"highlights":[],"highlights_html":"","also_read_available":false,"physique":"
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MUMBAI: Funding agency GQG Companions and State Financial institution of India Mutual Fund are contemplating investing as much as $800 million in whole in a $2.16 billion share providing of Indian telecom agency Vodafone Thought, in line with two folks aware of the matter.
U.S.-based GQG, run by India-born govt Rajiv Jain, plans to speculate about $500 million, whereas SBI Mutual Fund is contemplating an funding of $200 million to $300 million within the follow-on public providing, stated each folks, who declined to be named because the plans are confidential.
GQG and SBI declined to remark whereas Vodafone Thought didn’t reply to queries looking for remark.
After the Reuters report, Vodafone Thought shares pared the day’s earlier losses of 4% to shut roughly flat at 12.95 rupees.
Debt-saddled Vodafone Thought was shaped in 2018 when Vodafone Group merged its India enterprise with native firm Thought Mobile in a $23 billion deal.
The corporate, during which Vodafone has a greater than 25% stake, is India’s third-biggest operator after Reliance Jio and Bharti Airtel, which have taken away its market share in recent times. India’s authorities is the most important shareholder, proudly owning greater than 30%, after the corporate in 2022 transformed unpaid authorities dues to fairness.
It stated earlier on Friday the sale of latest shares will run from April 18 to April 22.
GQG and SBI Mutual Fund are contemplating investments beneath the institutional quota of what is going to be India’s greatest secondary providing. A remaining resolution on their investments has not been reached.
Funding banks Jefferies, Axis Capital and SBI Capital Markets are operating the share sale.
Vodafone Thought plans to make use of the funds to increase its 4G community, arrange 5G networks and pay taxes and dues, it stated in its regulatory submitting this week.
GQG’s Jain has a current monitor document of backing troubled firms with falling share costs and benefiting from them. Final 12 months, he wager billions on Indian conglomerate Adani Group, after the group’s shares halved following a short-seller assault.
Shares of Adani Group firms have greater than doubled since.
GQG manages greater than $100 billion globally and $20 billion in India – most of it in recent times, with Jain hanging a bullish word on the nation’s financial prospects in interviews.
Vodafone Thought’s board in February authorised a $5.4 billion fundraise through fairness and debt, meant to assist it increase and scale back stress on the debt-saddled firm.
Rivals Airtel and Reliance Jio have already launched 5G companies in most components of the nation.
Vodafone Thought’s shares have fallen 22% this 12 months, in contrast with the broader SENSEX index’s 3% rise.
","next_sibling":[{"msid":109247013,"title":"TIM investor Merlyn proposes plan to cut debt, have $7 bln in cash","entity_type":"ARTICLE","link":"/news/industry/tim-investor-merlyn-proposes-plan-to-cut-debt-have-7-bln-in-cash/109247013","link_next_mobile":"/news/industry/tim-investor-merlyn-proposes-plan-to-cut-debt-have-7-bln-in-cash/109247013?next=1","category_name":null,"category_name_seo":"industry"}],"related_content":[],"seoschemas":false,"msid":109248499,"entity_type":"ARTICLE","title":"GQG, SBI funds eye investments in Vodafone Thought $2.16 bln share sale: Stories","synopsis":"GQG and SBI Mutual Fund are contemplating investments beneath the institutional quota of what is going to be India’s greatest secondary providing. A remaining resolution on their investments has not been reached.","titleseo":"trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports","standing":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"Reuters","artdate":"2024-04-12 17:07:30","lastupd":"2024-04-12 17:13:43","breadcrumbTags":["GQG and SBI funds investments in Vodafone Idea","Investment","Vodafone Idea","GQG Partners","SBI Mutual Fund","share sale","gqg","Telecom news","Rajiv Jain","5G networks"],"secinfo":{"seolocation":"trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports"}}” data-authors=”[” data-category-name=”Industry” data-category_id=”18″ data-date=”2024-04-12″ data-index=”article_1″ readability=”24.541716328963″>
GQG and SBI Mutual Fund are considering investments under the institutional quota of what will be India’s biggest secondary offering. A final decision on their investments has not been reached.
By M. Sriram
MUMBAI: Investment firm GQG Partners and State Bank of India Mutual Fund are considering investing up to $800 million in total in a $2.16 billion share offering of Indian telecom firm Vodafone Idea, according to two people familiar with the matter.
U.S.-based GQG, run by India-born executive Rajiv Jain, plans to invest about $500 million, while SBI Mutual Fund is considering an investment of $200 million to $300 million in the follow-on public offering, said both people, who declined to be named as the plans are confidential.
GQG and SBI declined to comment while Vodafone Idea did not respond to queries seeking comment.
After the Reuters report, Vodafone Idea shares pared the day’s earlier losses of 4% to close roughly flat at 12.95 rupees.
Debt-saddled Vodafone Idea was formed in 2018 when Vodafone Group merged its India business with local company Idea Cellular in a $23 billion deal.
The company, in which Vodafone has a more than 25% stake, is India’s third-biggest operator after Reliance Jio and Bharti Airtel, which have taken away its market share in recent years. India’s government is the largest shareholder, owning more than 30%, after the company in 2022 converted unpaid government dues to equity.
It said earlier on Friday the sale of new shares will run from April 18 to April 22.
GQG and SBI Mutual Fund are considering investments under the institutional quota of what will be India’s biggest secondary offering. A final decision on their investments has not been reached.
Investment banks Jefferies, Axis Capital and SBI Capital Markets are running the share sale.
Vodafone Idea plans to use the funds to expand its 4G network, set up 5G networks and pay taxes and dues, it said in its regulatory filing this week.
GQG’s Jain has a recent track record of backing troubled companies with falling share prices and profiting from them. Last year, he bet billions on Indian conglomerate Adani Group, after the group’s shares halved following a short-seller attack.
Shares of Adani Group companies have more than doubled since.
GQG manages more than $100 billion globally and $20 billion in India – most of it in recent years, with Jain striking a bullish note on the country’s economic prospects in interviews.
Vodafone Idea’s board in February approved a $5.4 billion fundraise via equity and debt, meant to help it expand and reduce pressure on the debt-saddled company.
Rivals Airtel and Reliance Jio have already launched 5G services in most parts of the country.
Vodafone Idea’s shares have fallen 22% this year, compared with the broader SENSEX index’s 3% rise.
<span id="etb2b-news-detail-page" class="etb2b-module-ETB2BNewsDetailPage" data-news-id="109248499" data-news="{"link":"/news/industry/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","seolocation":"/news/industry/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","seolocationalt":"/news/industry/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","seometatitle":false,"seo_meta_description":"GQG and SBI Mutual Fund are considering investments under the institutional quota of what will be India's biggest secondary offering. A final decision on their investments has not been reached.","canonical_url":false,"url_seo":"/news/industry/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499","category_name":"Industry","category_link":"/news/industry","category_name_seo":"industry","updated_at":"2024-04-12 17:13:43","artexpdate":"2024-05-12 15:59:21","agency_name":"Reuters","agency_link":"/agency/12345678/Reuters","read_duration":"2 min","no_index_no_follow":false,"keywords":[{"id":21283740,"name":"GQG and SBI funds investments in Vodafone Idea","type":"General","weightage":100,"keywordseo":"GQG-and-SBI-funds-investments-in-Vodafone-Idea","botkeyword":false,"source":"Orion","link":"/tag/gqg+and+sbi+funds+investments+in+vodafone+idea"},{"id":6355120,"name":"Investment","type":"General","weightage":20,"keywordseo":"Investment","botkeyword":false,"source":"Orion","link":"/tag/investment"},{"id":19899016,"name":"Vodafone Idea","type":"General","weightage":20,"keywordseo":"Vodafone-Idea","botkeyword":false,"source":"keywords","meta":{"keywordsubtype":"org","entityname":"Vodafone Idea","hostid":"268","entityid":"Vodafone Idea"},"link":"/tag/vodafone+idea"},{"id":20016893,"name":"GQG Partners","type":"General","weightage":20,"keywordseo":"GQG-Partners","botkeyword":false,"source":"keywords","meta":{"keywordsubtype":"org","entityname":"GQG Partners","hostid":"268","entityid":"GQG Partners"},"link":"/tag/gqg+partners"},{"id":19979725,"name":"SBI Mutual Fund","type":"General","weightage":20,"keywordseo":"SBI-Mutual-Fund","botkeyword":false,"source":"keywords","link":"/tag/sbi+mutual+fund"},{"id":20104809,"name":"share sale","type":"General","weightage":20,"keywordseo":"share-sale","botkeyword":false,"source":"keywords","link":"/tag/share+sale"},{"id":16686400,"name":"gqg","type":"General","weightage":20,"keywordseo":"gqg","botkeyword":false,"source":"Orion","link":"/tag/gqg"},{"id":34974,"name":"Telecom news","type":"General","weightage":20,"keywordseo":"Telecom-news","botkeyword":false,"source":"Orion","link":"/tag/telecom+news"},{"id":20867491,"name":"Rajiv Jain","type":"General","weightage":20,"keywordseo":"Rajiv-Jain","botkeyword":false,"source":"keywords","link":"/tag/rajiv+jain"},{"id":21198681,"name":"5G networks","type":"General","weightage":20,"keywordseo":"5G-networks","botkeyword":false,"source":"keywords","link":"/tag/5g+networks"}],"read_industry_leader_count":false,"read_industry_leaders":false,"embeds":[{"title":"Vodafone Idea to launch Rs 18,000 crore FPO on April 18","type":"image","caption":false,"elements":[]}],"thumb_big":"https://etimg.etb2bimg.com/thumb/msid-109248499,imgsize-934998,width-1200,top=765,overlay-ettelecom/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports.jpg","thumb_small":"https://etimg.etb2bimg.com/thumb/img-size-934998/109248499.cms?width=150&top=112","time":"2024-04-12 17:07:30","is_live":false,"prime_id":0,"highlights":[],"highlights_html":"","also_read_available":false,"physique":"
MUMBAI: Funding agency GQG Companions and State Financial institution of India Mutual Fund are contemplating investing as much as $800 million in whole in a $2.16 billion share providing of Indian telecom agency Vodafone Thought, in line with two folks aware of the matter.
U.S.-based GQG, run by India-born govt Rajiv Jain, plans to speculate about $500 million, whereas SBI Mutual Fund is contemplating an funding of $200 million to $300 million within the follow-on public providing, stated each folks, who declined to be named because the plans are confidential.
GQG and SBI declined to remark whereas Vodafone Thought didn’t reply to queries looking for remark.
After the Reuters report, Vodafone Thought shares pared the day’s earlier losses of 4% to shut roughly flat at 12.95 rupees.
Debt-saddled Vodafone Thought was shaped in 2018 when Vodafone Group merged its India enterprise with native firm Thought Mobile in a $23 billion deal.
The corporate, during which Vodafone has a greater than 25% stake, is India’s third-biggest operator after Reliance Jio and Bharti Airtel, which have taken away its market share in recent times. India’s authorities is the most important shareholder, proudly owning greater than 30%, after the corporate in 2022 transformed unpaid authorities dues to fairness.
It stated earlier on Friday the sale of latest shares will run from April 18 to April 22.
GQG and SBI Mutual Fund are contemplating investments beneath the institutional quota of what is going to be India’s greatest secondary providing. A remaining resolution on their investments has not been reached.
Funding banks Jefferies, Axis Capital and SBI Capital Markets are operating the share sale.
Vodafone Thought plans to make use of the funds to increase its 4G community, arrange 5G networks and pay taxes and dues, it stated in its regulatory submitting this week.
GQG’s Jain has a current monitor document of backing troubled firms with falling share costs and benefiting from them. Final 12 months, he wager billions on Indian conglomerate Adani Group, after the group’s shares halved following a short-seller assault.
Shares of Adani Group firms have greater than doubled since.
GQG manages greater than $100 billion globally and $20 billion in India – most of it in recent times, with Jain hanging a bullish word on the nation’s financial prospects in interviews.
Vodafone Thought’s board in February authorised a $5.4 billion fundraise through fairness and debt, meant to assist it increase and scale back stress on the debt-saddled firm.
Rivals Airtel and Reliance Jio have already launched 5G companies in most components of the nation.
Vodafone Thought’s shares have fallen 22% this 12 months, in contrast with the broader SENSEX index’s 3% rise.
","next_sibling":[{"msid":109247013,"title":"TIM investor Merlyn proposes plan to cut debt, have $7 bln in cash","entity_type":"ARTICLE","link":"/news/industry/tim-investor-merlyn-proposes-plan-to-cut-debt-have-7-bln-in-cash/109247013","link_next_mobile":"/news/industry/tim-investor-merlyn-proposes-plan-to-cut-debt-have-7-bln-in-cash/109247013?next=1","category_name":null,"category_name_seo":"industry"}],"related_content":[],"seoschemas":false,"msid":109248499,"entity_type":"ARTICLE","title":"GQG, SBI funds eye investments in Vodafone Thought $2.16 bln share sale: Stories","synopsis":"GQG and SBI Mutual Fund are contemplating investments beneath the institutional quota of what is going to be India’s greatest secondary providing. A remaining resolution on their investments has not been reached.","titleseo":"trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports","standing":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"Reuters","artdate":"2024-04-12 17:07:30","lastupd":"2024-04-12 17:13:43","breadcrumbTags":["GQG and SBI funds investments in Vodafone Idea","Investment","Vodafone Idea","GQG Partners","SBI Mutual Fund","share sale","gqg","Telecom news","Rajiv Jain","5G networks"],"secinfo":{"seolocation":"trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports"}}” data-news_link=”https://telecom.economictimes.indiatimes.com/information/trade/gqg-sbi-funds-eye-investments-in-vodafone-idea-2-16-bln-share-sale-reports/109248499″>
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