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Vodafone India gets $7B in equity infusion from its parent group

Vodafone India announced yesterday that it has received and equity infusion of Rs 47,700 crore (~$7 billion) from its UK based parent company Vodafone Group in the first half of the current fiscal. The equity infusion comes via foreign direct invest from the Vodafone Group which had earlier bought out Vodafone India’s minority stakeholders like Analjit Singh and Piramal Healthcare to acquire 100% controlling stake in the company, in April 2014. The Indian unit claims to have crossed over 200 million customers pan-India, with at least 107 million of them hailing from rural areas. This is the largest fund infusion that the Indian unit has received since its inception in 2007. IPO plans: In April, Vodafone India was in talks with investment bankers to launch its initial public offering, according to a Reuters report. The IPO was expected to raise anywhere around $2 billion and $2.5 billion. Earlier it was reported that Vodafone would complete the IPO process by the end of Q4-FY16. The company had said that it would go ahead with its IPO plans in November in its earnings report. More here. ICR deal with BSNL: Last month, Vodafone India has signed a 2G intra-circle roaming (ICR) agreement with state owned telco BSNL to use each other’s network assets and expand 2G connectivity mutually across the country in all of their circles. YOU Broadband acquisition: Vodafone had earlier acquired TRG Capital owned internet service provider YOU Broadband for and estimated Rs 350-400 crore in April. Both companies signed an agreement in March, while…

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