Apart from Rakesh Jhunjhunwala, investors such as Kedaara Capital, WestBridge, Temasek and Prudential have also put in their bids
Bankers had been circling both sides of the telecoms mega-merger since it was first mooted late last year, when competition in the sector accelerated dramatically. In India, deals worth more than $1 billion are rare.
Vodafone has mandated Bank of America Corp, India's Kotak Investment Banking, UBS AG in April as global coordinators for the IPO
Siddhartha, the main promoter as well as chairman and MD, holds 54.78 percent stake in Coffee Day.
IndiGo has picked Citigroup, Kotak Investment Banking, Morgan Stanley and JP Morgan Chase as lead managers for the listing, as well as UBS and Barclays, two of the sources said.