Vodafone Idea Share Price Target 2024 amid MEGA FPO: Stock Under Rs 20 - Time to BUY?

Vodafone Idea Share Price Target 2024, Vodafone Idea FPO Apply Or Not, Vodafone Idea FPO Review: Vodafone Idea shares are in focus as the company has launched its Rs 18,000 crore FPO. The three-day FPO will end for subscription on April 22.

The FPO, with a size of Rs 18,000 crore, is touted to the largest FPO in the country. The company has fixed the price band at Rs 10-11 per share.

Vodafone Idea FPO Review: Apply Or Not

Brokerage firm IIFL Securities has recommended subscribing Vodafone FPO. It said that the funding will enable the company to narrow the 4G coverage or capacity gap with peers. This would not only arrest sub losses, but also enable faster upgrade of 2G users to 4G.

“With the government keen on ensuring a three-player market, we do not see the regulator frowning upon tariff hikes. Notwithstanding the weak spending environment in low-income and rural segments, we expect down-trading to be limited considering the staple nature of telecom," IIFL Securities said in a report.

Vodafone Idea Share Price Target 2024

IIFL Securities has upgraded its rating on Vodafone Idea stock. It has assigned ADD rating on Vodafone Idea shares for a price target of Rs 14.

April from Vodafone Idea, IIFL Securities has also upgraded Indus Towers to BUY rating for a price target of Rs 379.

Vodafone Idea Share Price History

Vodafone Idea is a Aditya Birla Group company. It is a constituent of S&P BSE 200. Vodafone Idea shares currently trade under Rs 20.

According to BSE as on April 18, Vodafone Idea shares have climbed 13 per cent in the last six months. Vodafone Idea shares have delivered a multibagger return of 117 per cent in the last one year.

In the last 5 and 10 years, Vodafone Idea shares have corrected 24 per cent and 84 per cent, respectively.

Vodafone Idea shares have a 52-week rage of Rs 18.42 - Rs 6.01 on BSE. The company has a market cap of Rs 66,158.16 crore.