Deals
Vodafone Said to Pick Banks for $3 Billion IPO of India Unit
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Vodafone Group Plc has chosen banks to arrange a listing of its India business, which could raise as much as $3 billion and become the nation’s largest initial public offering, people with knowledge of the matter said.
The Newbury, England-based company picked Bank of America Corp., Kotak Mahindra Bank Ltd. and UBS Group AG to lead the offering, which could take place in the next year, according to the people. Axis Bank Ltd., Deutsche Bank AG, HSBC Holdings Plc, ICICI Securities Ltd. and JM Financial Ltd. were also selected to work on the share sale, the people said, asking not to be identified because the discussions are confidential.