India IPO: Vodafone picks Kotak, BoFA & UBS as global coordinators

By May 2nd, 2016 AT 11:17 AM

Vodafone has reportedly selected Kotak Investment Banking Bank of America Merrill Lynch (BofA), and UBS as joint global coordinators of its Indian unit’s IPO, which is widely expected to raise between $2 billion-$2.5 billion to fund operations in the country.

Vodafone logo

According to a Reuters report, Vodafone is likely to launch the IPO early next year, and could be valued at about $20 billion under the offer. It added that Deutsche Bank, HSBC and ICICI Securities have won joint book-runner roles. Vodafone, India’s second-largest mobile operator behind Bharti Airtel, had raised the prospect of a listing in India as early as 2011.

Vodafone entered India in 2007, when it acquired a majority stake in Hutchison Essar and since 2014 has wholly owned Vodafone India. The report said that Vodafone is expected to use the proceeds to buy additional radio spectrum and further expand its operations across India’s crowded and cut-throat telecoms market.

Vodafone has recently acquired YOU Broadband in a Rs 350-Rs400 crore deal to strengthen its wireline operations ahead of commercial launch by Reliance Jio, which is laying its own fiber to offer FTTH services in the country.

Read more on:

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.

guest
1 Comment
newest
oldest most voted
Inline Feedbacks
View all comments
VIKAS S

What has this article to do in this website??? Is there any news related to the telecom company?? Vodafone is to raise funds via IPO, that is okay… But they have selected Kotak, BoFA & UBS as their coordinator, what has this to do in this website??? What do the readers do, if VODAFONE has selected these companies?? Is this the news for us?? I think “NO” I think this news has nothing to do with the readers of this website. Telecomtalk should publish quality articles instead of publishing unnecessary article. Also please publish JIO related quality news instead of… Read more »

Recent Posts

Instagram Reels vs Roposo Vs Mitron: Ultimate TikTok Alternative

Instagram Reels has been officially launched by Instagram for users all across the world on August 5, 2020. It is...

BSNL Broadband Plans Under Rs 5,000 Offering 100 Mbps Speeds

Bharat Sanchar Nigam Limited (BSNL) is one of the oldest broadband internet service providers of the country. The telco has...

Indian Government to Enable High Speed Connectivity for Andaman and Nicobar Islands on August 10

The Indian government on Friday announced that the Indian Prime Minister, Narendra Modi will inaugurate the Submarine Optical Fibre Cable...