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.

1
Leave a Reply

avatar
Photo and Image Files
 
 
 
1 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
1 Comment authors
VIKAS S Recent comment authors
newest oldest most voted
VIKAS S
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

MTNL Launches New Prepaid STV 251 With 1GB Daily Data and 28 Days Validity

Mahanagar Telephone Nigam Limited (MTNL) offers a variety of prepaid plans to its customers like all other major telcos like...

Airtel Xstream Fiber offers 1000 GB of Bonus Data to New Users in Select Cities

Bharti Airtel on Wednesday introduced an additional promotional offer that enables users to browse upto 1000 GB of bonus data...

Nokia Android TV 43-Inch With Dolby Vision and Ultra Thin Bezels to Launch on June 4

Nokia is trying to find its ground back in the technology market. So far, the tech giant has been able...