FPO lock-in expiry: Vodafone Idea share price to gain focus on Monday as anchor investors' 30-day lock-in period ends
₹18,000-crore follow-on public offering's (FPO) anchor 30-day lock-in period is likely to expire on Monday, May 27. In the past, there has been selling pressure on company share prices near the end of the anchor lock-in. Vodafone Idea share price, which ended Friday's BSE trading session 7.54% higher at ₹15.11 per share, may face selling pressure on Monday's trade.As per the monthly charts, the Vodafone Idea share price has been forming a base around the 10.50–11.75 level and is also seen to be breaking out above its important resistance mark of 14.05, successfully managing to close above the same.
Overhead resistance lies near 18.40 and 20.00–22.00 levels, which should be the potential targets for the stock within the next 1 year. Any pullback down towards 14–14.50 should offer a good buying opportunity now on the stock, said Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities. Vodafone Idea FPO share price opened with a 7.27% premium at ₹11.80 on NSE.
On BSE, Vodafone Idea FPO shares debuted at ₹12 apiece, up 9% from the issue price of ₹11. Vodafone Idea share price has gained over 9% since its FPO shares listing.“On listing, it generated healthy returns for all the investors. The post-FPO success of Vi is in the limelight, as they got what they needed to improve operation as well as launch 4G services and get into competition with peers," said Tapse.
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