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With 146 Million Customers, Vodafone Eyes IPO In India

Vodafone India has connected with NM Rothschild, an investment bank to advice the company with its listing plans and assistance to clear the regulatory hurdles. They together are going to evaluate the price discovery and valuation, restructure the shareholding pattern and appoint the book-runners.

Vodafone IPO is on the cards

Vodafone IPO is on the cards

Vodafone Group started their company as a telecom venture for USD 11.2 billion in India in 2007, after buying Hutchison’s 67% stake with Essar. Vodafone with nearly 146 million subscribers organized a meet of global investors and analysts in Mumbai, last year to disclose their financial matters.

It is known that the company was fined an amount of USD 2.5 billion by Income Tax Department. Earlier Vodafone had bought out Essar India’s 33% stake as a joint venture for USD 5.4 billion. This made Vodafone’s ownership rise to 75.35% where the prescribed Foreign Direct Investment (FDI) limit was 74%.

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