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Construction : Telecom | May 2016 | Source : Infrastructure Today

Vodafone gears up for Rs.16,500-cr IPO, names bankers

Vodafone, India´s second largest mobile operator, has appointed six bankers to raise around $2.5 billion (Rs.16,500 crore) through an initial public offering. This could well make it India´s largest IPO in rupee terms. Reportedly, Deutsche Bank, HSBC and ICICI Securities would be the book-running lead managers while Bank of America Merrill Lynch (BofAML), UBS and Kotak Securities would be the global coordinators. ¨It is expected to be a combination of offer-for-sale and issuance of fresh equity. The issue is targeted for the last quarter of 2016,¨ said an investment banker. The parent will dilute about 10 per cent of its equity in Vodafone India.

In 2010, Coal India had raised Rs.15,199 crore, the largest issue in the country.

 
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