New Delhi, April 25 -- India's largest telecom service company Vodafone Idea's Rs 25,000 crore rights issue has been oversubscribed and managed to garner Rs 26,500 crore, as per preliminary reports.
Banking sources said the issue, which closed on Wednesday, was oversubscribed owing to the huge demand from retail and institutional subscriptions.
In a regulatory filing, the telco said: "On the basis of preliminary informations, total applications from ASBA and Non-ASBA have exceeded the total issue amount of Rs 25,000 crore."
"The data pertaining to the applications is preliminary and is subject to verification and clearing of cheques, as applicable and finalisation of the basis of allotment."
Vodafone Idea's clarification came after data...