Vodafone to go slow with IPO plans post SC verdict: Sources

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Vodafone is likely to go slow on its IPO plans, and the much anticipated issue may hit the street only in 2013, reports CNBC-TV18's Kritika Saxena.

It is leant that there has been a communication internally and a decision has been taken by the Vodafone Plc Management that they are looking at CY13 for the IPO.

There are two key reasons for this, one is the unfavourable market condition; it is not the right time to go ahead with an IPO that can be USD 2 billion plus. Secondly, the India arm is currently cash flow positive. There is no specific hurry to raise funds currently specially, after the Supreme Courts verdict in Vodafone's favour.

Sources say that a large amount of the refund that Vodafone will be getting from the taxman will go into Vodafone Plc and a part will come in the India arm as well.

Aside from that, it is also learnt that they have been talking to specific players for selling Vodafone towers outside of the India Joint venture because they haven't got in the right response and the market conditions are slightly difficult so they may have put that on hold as well. They have lot of plans, but they will be largely focused on expansion as far as 3G outlook and broadband is concerned.

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