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HomeMarket NewsVodafone Idea shares bought by another 1 lakh retail shareholders during the June quarter
While retail investors continued to keep their faith in Vodafone Idea, India's domestic mutual funds and foreign portfolio investors trimmed their holdings during the April-June period.
Retail shareholders of Vodafone Idea continue to keep the faith in the stock in hopes of a turnaround and some potential relief from the government.
According to the latest shareholding pattern uploaded on the Bombay Stock Exchange (BSE), Vodafone Idea had 60.24 lakh retail shareholders, or those with an authorised share capital of up to ₹2 lakh. This is in comparison to the 59.06 lakh shareholders that they had at the end of the March quarter.
April-June was also the quarter in which the government converted Vodafone Idea's dues worth over ₹36,000 crore into equity, thereby increasing their stake in the telecom service provider to 49% from 22% earlier, making it the largest public shareholder in the company.
On the flip side, India's Domestic Mutual Funds, after increasing their stake in the company for two quarters in a row, have trimmed their holdings in Vodafone Idea during the June quarter. Mutual Funds now held a 3.88% stake in the company, compared to a 4.5% stake they had at the end of the March quarter.
Foreign Portfolio Holdings in Vodafone Idea have nearly halved from the previous quarter. From 10.11% at the end of March, FPI holdings have declined to 5.98% in June.
Shares of Vodafone Idea gained nearly 10% during the April to June period. While the company continues to lose subscribers, the government has made it clear that there is no further relief likely to be forthcoming from their end.
Shares of Vodafone Idea ended 1.2% lower on Friday at ₹7.63. The stock is down 30% from its FPO price of ₹11 and 60% lower than its 2024-peak of ₹19.18.
