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Vodafone India IPO likely next year, may raise $4 billion

 The Hawk |  2015-05-26 05:55:37.0  0  Comments

Vodafone India IPO likely next year, may raise $4 billion

New Delhi: Leading telecom operator Vodafone India is likely to launch its IPO next fiscal to raise about USD 4 billion. According to report, British telecom major planning to launch IPO of its Indian arm next fiscal. For a long time, Vodafone Group Plc has been planning IPO of its Indian arm having acquired 100 percent stake in the Indian venture by buying out entire stake from its local partners for Rs 10,141 crore in 2013. Vodafone India former MD and CEO Marten Pieters had said that company will proceed with its IPO plan provided that its tax issue is resolved. Vodafone is entangled in a legal dispute with the Indian government in about Rs 20,000-crore tax dispute. Vodafone in January said that it has invested more than GBP 12.8 billion (about Rs 1,29,745) in India since 2007 and in 2013 it made commitment to invest about Rs 4,000-6,000 crore annually. In addition to this, the company acquired spectrum for about Rs 25,959.74 crore in March and the company has plans to expand its 3G service on its own network from 9 circles to 16 circles. According to reports, the company has appointed NM Rothschild as its consultant to work on roadmap and the paperwork for the public offering will be completed by the end of ongoing financial year.

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