Vodafone said to plan $2.5b India IPO in Q4
Men ride their horse carts past an umbrella with a Vodafone logo on a road in Jammu November 21, 2011. India's federal police on November 19 conducted searches at Vodafone's Indian unit and Bharti Airtel's offices seeking details on spectrum allocation by the government to operators between 2001-02. The searches were in regard to possible irregularities in allotting spectrum during the previous government led by the Bharatiya Janata Party (BJP), now in opposition, Central Bureau of Investigation's (CBI) spokeswoman, Dharini Mishra told Reuters on Saturday. REUTERS/Mukesh Gupta (INDIAN-ADMINISTERD KASHMIR - Tags: BUSINESS TELECOMS CRIME LAW LOGO)

vodaphone_india-1024x702.jpg

Reports indicate that Vodafone is preparing to conduct an IPO of its Indian business in the fourth quarter that could raise as much as $2.5 billion.

The operator is expected to file a draft prospectus for the IPO in August, citing sources close to the deal.

According to the report, Vodafone has hired Bank of America, Kotak Investment banking and UBS AG as the global co-ordinators for the IPO. The bank selection process commenced in April.

With a potential value of up to $2.5 billion, the IPO would be India’s largest public listing since 2010. Previous reports indicate that the value of the offer could be much larger, to the extent that the IPO has the potential to be India’s largest ever float.

Vodafone has been considering an IPO of its Indian operations for years, but the process has been complicated in part by disputes with the government over tax demands and the merger of its operating businesses.


About Retail News Asia

Retail News Asia is committed to providing local and global retailers with the latest news from the Asian retail market on a daily basis.

We have resources for everyone from independently owned business owners to online-only retailers and major chains expanding their reach throughout the Asian market. Retail News is “the news source” with over 50 weekly posts and 13,6 million readers.


CONTACT US

CALL US ANYTIME

Most read



Retail updates

Stay up to date of the lates updates and retail news from Asia.








X