The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
The company has already made payments for the spectrum according to rules.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
Vodafone has to sell its entire stake in Airtel following new norms issued by government.
The appointment is effective from February 16, 2012, following formal approval from the Board of Vodafone India.
The current termination charge is 10 paisa a minute.
Prominent exits by promoters included a Rs 15,300 crore share sale in Indus Tower by Vodafone Plc, a Rs 9,300 crore share sale by the Tata group in Tata Consultancy Services.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
The world's largest mobile operator by revenue, Vodafone, which operates in India with a joint venture with Essar Group, on Monday said it will invest more in India as it sees more opportunities in the country.
The revenue department, sources said, will pursue the tax demand along with accrued interest and penalty.
Vodafone India has doubled its mobile Internet rates for 2G and 3G customers across the country, and it is being implemented in a phased manner.
SC directs CBI to take action over extra spectrum allocation during NDA rule.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
The company will spend Rs 10,141 crore to buy 15.5 per cent stake from minority investors.
The money will be used to build capacity.
Vittorio Colao, who is currently on an India visit, said he would be open to listing his company in the country
Ruias-led Essar Group on Friday launched a scathing attack on Vodafone saying that the British company is trying to gain 100 per cent control of the telecom JV Vodafone-Essar at an "artificially depressed value".
Company also called for clarity on jurisdiction and role of the TRAI and TDSAT.
Mobile services provider Vodafone on Tuesday said it has signed an agreement with software products major Apple to sell iPhone in India, besides nine other markets. iPhone is a mobile phone that allows its user to make calls by simply tapping a name or number in the address book. It lets the customer to select and listen to voice mail messages in whatever order the consumer wants.
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
Adjusted gross revenue of the industry has grown just 5.3 per cent during the financial year ended March 31
Vodafone, which acquired controlling stake in India's Hutch Essar, will bring its brand to the subcontinent later this year, the company's chief executive officer Arun Sarin has said.
Vodafone wrote to the government proposing conciliation.
The telecom giant has asked FinMin for a settlement.
All the three companies, which dominate India's mobile services market with about 53 per cent share, have reduced the quantum of Internet download and/or validity periods on various packages they were offering, as per their websites.
The company says the reminder does not include a deadline for payment.
Fair valuation of minority stake in joint venture at core of dispute; different worth of shares in two Essar entities a thorny issue.
India's top three GSM mobile operators, Bharti, Vodafone and Idea Cellular have joined hands to set up an independent tower company, Indus Towers, that aims to share passive infrastructure with all telecom players to enable lower cost and a more competitive operative environment.
In a bid to break the stalemate on the Vodafone tax issue, the Cabinet on Tuesday approved a proposal for non-binding conciliation with the British telephone major, the outcome of which will have to be ultimately approved by Parliament.
Last week, Essar had decided to prepay $900 million of this debt to foreign lenders.
Bharti Airtel on Monday reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter, and the company unveiled top-level changes, including Gopal Vittal moving into the role of executive vice chairman on January 1, 2026. India's second-largest telco - that competes with Reliance Jio and Vodafone Idea in the Indian telecom market - clocked quarterly revenues of Rs 41,473 crore, 12 per cent higher than the year-ago period, aided by strong momentum in India and growth in Africa.
Reliance Jio added 34.7 lakh mobile subscribers in September, cementing its lead in the competitive telecom market, while Airtel's wireless subscriber tally rose by 13.2 lakh, according to monthly data put out by Trai. Vodafone Idea lost 7.5 lakh mobile subscribers during September, dragging its wireless user tally to 22.75 crore. Reliance Jio gained 34.75 lakh wireless subscribers in September, and its user base climbed to 44.92 crore, as per data by Telecom Regulatory Authority of India (Trai).
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
Vodafone has rejected a restructuring call by an activist investor lobby that would have unlocked up to $75 billion to shareholders, saying such business strategies could have prevented it from recent acquisitions such as Hutch-Essar in India.
Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
Vodafone Essar on Thursday said it has crossed the 100-million subscriber mark in India, becoming the third mobile operator in the country to do so after rivals Bharti Airtel and Reliance communications.
DoT has rejected the demand of Vodafone India for licence extension in three circles.
