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Vodafone India chooses joint investment bankers for IPO launch: Report

Vodafone India, the Indian subsidy of the Vodafone Group has chosen Bank of America Merrill Lynch, Kotak Investment Banking and UBS as its joint global advisors for its expected IPO launch in India, reports Livemint. Other names include Deutsche Bank, HSBC and ICICI Securities. MediaNama has written to Vodafone for a statement, and is yet get a reply from the company's side Last month, a Reuters report stated that Vodafone India was in talks with investment bankers such as ICICI Securities, Citigroup, Morgan Stanley and Goldman Sachs to raise anywhere around $2 billion and $2.5 billion. Vodafone is the among the top three operators in India who has not launched an IPO since its entry in India through a majority stake purchase in Hutchinson Essar in 2007. Its parent company, the Vodafone Group had bought out Vodafone India’s minority stakeholders like Analjit Singh and Piramal Healthcare to acquire 100% stake in the company, in April 2014. It has continuously been among the top three operators in the country, which includes Airtel, and Idea. However, note that Airtel had launched its IPO in 2007, while Idea also went the IPO way in 2007 as well. Timeline of Vodafone’s expected IPO November 2012- Former Vodafone CEO Martin Pieters had said during the company’s Q2-FY13 earnings conference call that the company does intend to go for an IPO but was awaiting clarity on regulatory matters including spectrum fee, re-framing, 3G ICR and other related developments. October 2013- The company reportedly put its IPO plans on hold due to…

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