09:45 AM EDT, 04/12/2024 (MT Newswires) -- GQG Partners and State Bank of India Mutual Fund may invest up to $800 million in the $2.16 billion share offering of India's Vodafone Idea, Reuters reported Friday, citing two people familiar with the matter.

GQG may invest about $500 million and SBI Mutual Fund is mulling an investment between $200 million and $300 million in the offering of the Indian telecom, in which Vodafone (VOD) has a stake of more than 25%, the report said, quoting the sources.

GQG and SBI Mutual Fund are mulling the investments under the institutional quota of the secondary offering for the debt-saddled Indian company, Reuters reported, adding that a final decision about the investments hasn't been made.

Vodafone Group ( VOD ) and Vodafone Idea didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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