News Maffat

We Promote Almost Everything…

img
Home / Business News / Vodafone to Apply for India IPO Listing in August 2016

Vodafone to Apply for India IPO Listing in August 2016

/
/
/

Vodafone Group is likely to file a draft catalogue for a planned listing of its Indian business in August ahead of a market introduction in the fourth quarter, in a deal expected to raise as much as $2.5 billion, people with direct knowledge of the matter told Reuters.

Vodafone’s plans come against the backdrop of an 18 percent increase in India’s broader share market index. NSEI in the past four months, which has enhanced the outlook for new share sales in the near-term.

The company had been estimated to aim for early next year for the listing.

Vodafone to file for India IPo in AUgust
Vodafone to file for India IPo in AUgust

“Timelines on Vodafone India IPO will be most possibly decided after spectrum auction this monetary in India is over”

Vodafone spokesperson said, “We have started IPO preparations, which includes conversations with banks, but no final decision has yet been taken as to whether or not we will IPO.”

Kotak Investment Banking, Bank of America, HSBC Holdings, Deutsche Bank AG and ICICI Securities for working on the IPO of Vodafone India– the largest telecom operator in India.

The Cabinet on Wednesday 15 June, 2016 approved mega-spectrum auction plan in which airwaves worth Rs 5.66 lakh crore for mobile service station will be put for auction. However, the timeline for auction was not finalized as Cabinet has asked telecom ministry to seek view of telecom controller on issue of annual spectrum charges.

As per industry foundations, the auction has been planned to start in September 2016 but the same has not been confirmed officially.

While the Cabinet has not dropped spectrum base price as wanted by industry, it has relaxed equity lock-in period from 3 years to one year.

This post has been seen 418 times.

  • Facebook
  • Twitter
  • Google+
  • Linkedin
  • Pinterest
  • Reddit
It is main inner container footer text