Vodafone Plc may divest 10% in Indian arm via IPO

Vodafone Plc has set the ball rolling in getting its Indian arm listed on the stock exchange.

The parent company is in discussion with leading merchant bankers and might finalise on 6 bankers by the first quarter of next calendar year.

Vodafone Plc expects to raise USD 40-50 crore through the IPO and use the funds to pare Vodafone India’s debt. Current enterprise value of the Indian arm is being pegged at USD 1100 crore.

“We have begun some preparatory work. No decision has been taken yet. IPO will depend on a number of factors in India at that time”, the company said.