Vodafone India mandates for up to US$3 billion IPO | Reuters

(IFR) - UK telecom giant Vodafone has mandated Bank of America Merrill Lynch, Kotak and UBS as joint global coordinators for the IPO of its Indian unit, according to two sources.

Reuters April 29, 2016 23:45:12 IST
Vodafone India mandates for up to US$3 billion IPO
| Reuters

Vodafone India mandates for up to US3 billion IPO
 Reuters

(IFR) - UK telecom giant Vodafone has mandated Bank of America Merrill Lynch, Kotak and UBS as joint global coordinators for the IPO of its Indian unit, according to two sources.

The IPO is expected to raise US$2bn–$3bn, potentially smashing the Rs155bn (US$2.3bn) record of Coal India as the country’s largest float.

Banks winning joint bookrunner slots are Deutsche Bank, HSBC and ICICI Securities, sources said. Pitch meetings were held on Monday and Tuesday of this week.

The foreign bidders for the mandate were Bank of America Merrill Lynch, Citigroup, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley and UBS, while the local banks pitching were Axis, JM Financial, ICICI Securities and Kotak.

(Reporting by S Anuradha)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

also read

How a growing aviation sector in China led US, EU to settle dispute between Boeing and Airbus
World

How a growing aviation sector in China led US, EU to settle dispute between Boeing and Airbus

With this, an epic 16-year-old dispute over support for airplane makers appears to be heading for an end, at least for now

Jared Kushner working on a memoir with insider anecdotes from Trump presidency; book to release in 2022
World

Jared Kushner working on a memoir with insider anecdotes from Trump presidency; book to release in 2022

Kushner, the son-in-law of former President Donald Trump and one of his top advisers during his administration, has also been the subject of numerous controversies, whether for his financial dealings and potential conflicts of interest or for the administration’s widely criticised handling of COVID-19.

Explained: Why Ukraine's entry into NATO will widen rift between Russia and US
World

Explained: Why Ukraine's entry into NATO will widen rift between Russia and US

For Vladimir Putin, such an occurence fundamentally alters the risk versus reward equation when it comes to repeating his action in Crimea, were he of such a mind