Deals
Vodafone Said to Start Bank Selection Process for India IPO
- Deal could be one of India's largest initial public offerings
- Vodafone may pick advisers for IPO of $20 billion unit by May
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Vodafone Group Plc has started the process of choosing arrangers for a listing of its Indian wireless business, people with knowledge of the matter said, in what could be among the country’s biggest initial public offerings.
The Newbury, England-based company asked interested investment banks to sign non-disclosure agreements before receiving more detailed information on the India unit, the people said, asking not to be identified as the information is private. Vodafone, which may sell about 10 percent of the India business through the share sale, could pick advisers by next month, according to the people.