Mutual Funds with Vodafone Idea Exposure Amid Stock Plunge

Mutual Funds with Vodafone Idea Exposure Amid Stock Plunge

On September 19, 2024, Vodafone Idea shares saw a sharp 19% decline following the Supreme Court's dismissal of telecom companies' curative petitions concerning the Adjusted Gross Revenue (AGR) dues. This drop pushed the stock price below its Follow-On Public Offer (FPO) price of ₹11, raising concerns for investors with exposure to the company through mutual funds.

Mutual Fund Activity

August 2024 saw significant mutual fund activity surrounding Vodafone Idea shares. According to data from Trendlyne, 48 mutual funds purchased shares, while 26 sold them.

Top Buyers and Sellers

• Kotak Equity Arbitrage Fund Growth emerged as the largest buyer, acquiring 2.20 crore shares.
• Invesco India Arbitrage Fund Growth was the biggest seller, offloading 4.09 crore shares.

Other notable mutual funds that increased their holdings include Kotak Equity Savings Fund Regular and Nippon India Arbitrage Fund Growth, indicating that some funds continue to see potential in the stock despite recent market volatility.