The world's largest mobile operator by revenues, Vodafone Group Plc, is planning to list its Indian unit over the next 1-2 years, according to a report in Business Standard.
Apparently, the dismal performance of the Indian stock market in 2011-which plunged 25 percent - has done little to diminish the telecom operator's plan for an initial public offering (IPO). The company has also been entangled in long-standing tax issues with the government.
According to the report, Vodafone has roped in investment bank NM Rothschild for help in its listing plans.
Last December, the company had organised a first-of-its-kind global investor and analyst meet in Mumbai, where it disclosed some financial details and regulatory risks. India is one of the largest markets for the Vodafone Group, where it boasts almost 146 million subscribers.
Last year, the company made headlines after Piramal Healthcare picked up a 5.5 percent stake in the Indian arm of Vodafone for $640 million. The investment was important for the company as its ownership rose to 75.35 percent, more than the prescribed foreign direct investment limit of 74 percent.
Vodafone is one of India's largest telecom operators, boasting more than 146 million subscribers. But it faces regulatory uncertainties due to a new telecom policy due this year and increasing competition in a crowded telecom market.
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Updated Date: Dec 20, 2014 06:11:47 IST