Listing plan: A vendor selling traditional Indian snack walks past closed shops displaying an advertisement for Vodafone in Jammu. The listing of Vodafone’s Indian unit is expected to raise US2bil to US2.5bil. — Reuters
SINGAPORE: British telecoms operator Vodafone has picked Bank of America Merrill Lynch (BoA), Kotak Investment Banking and UBS as joint global coordinators of its Indian unit’s initial public offering (IPO), people familiar with the matter said, kicking off its long-awaited listing plan.
The IPO is expected to raise between US$2bil and US$2.5bil, Reuters previously reported, which, at the upper end, would make it India’s biggest stock market listing since state-owned Coal India Ltd raised US$3.5bil in 2010.
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