Vodafone IdeaLimited (Vi), India’s leading telecom operator, is witnessing strong investor interest in its ongoing follow-on public offer (FPO) – the largest ever in the country. This comes despite a “no comment” from its parent company,Vodafone GroupPlc, regarding a potential shift in stance towards the Indian business.Vi’s CEO,Akshaya Moondra, clarified that the promoter group, including Vodafone Group, remains committed to the company’s success.He emphasized that Vodafone Group’s current non-participation is due to shareholder concerns about isolating Indian operations and maximizing the value of their stake inIndus Towers, a separate telecom infrastructure entity.Moondra highlighted the significant financial contributions made by both promoter groups, Vodafone andAditya Birla Group, totaling Rs 32,000 crore. He pointed out that Vodafone Group alone contributed Rs 15,000 crore, including Rs 4,000 crore earlier in 2022.The FPO follows a challenging period for Indian telecom companies after a Supreme Court ruling in 2019 on statutory dues. Vi, specifically, faced a significant financial burden due to the ruling.However, the company has managed to secure Rs 5400 crore from anchor investors like GQG Partners, UBS, and domestic giants like HDFC and Motilal Oswal. This represents the third-largest anchor book for an FPO in India.Furthermore, Vi’s board has approved a preferential share issue of Rs 2,075 crore from the Aditya Birla Group. The company also plans to secure debt funding of Rs 25,000 crore after the FPO closes this quarter.Overall, Vi’s FPO demonstrates positive investor sentiment despite Vodafone Group’s current stance. The company’s focus on securing capital and its commitment from promoter groups position it for future growth.