Sunil Mittal-led Bharti Airtel has become the world's third largest mobile operator with 303 million subscribers.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
It is the second firm to have received retrospective tax notice this year after Vodafone Group.
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IBM, Nokia Oyj, Microsoft cases could now be resolved
The Guardian reported that accounts filed in Dublin showed that in 2009 Her Majesty's Revenue and Customs settled a dispute with the British telecoms provider over its Irish tax returns.
Transfer pricing tax orders of Income Tax against Shell and Vodafone pertain to alleged undervaluation of shares issued by their domestic subsidiaries to the parent companies abroad.
Spectrum auction on Thursday entered the 10th day of bidding and started off from Rs 61,091.83 crore (Rs 610.91 billion) in terms of value.
Vodafone India, the nation's second-biggest telecom firm, is planning to invest Rs 7,100 crore in the next 2-3 years, mainly on rolling out 3G networks.
While Vodafone will hold 45.1% of the shares in the new entity, to be renamed at a later stage, Kumar Mangalam Birla and other promoters of Idea group will hold 26%. Vodafone India will also transfer 4.9% of its shareholding to Idea's promoters for a cash consideration of Rs 38.74 lakh crores.
CBDT circular issued last month had raised multiple taxation concerns.
While UltraTech Cement has been the biggest value creator adding nearly Rs 99,000 crore to its market capitalisation, Grasim Industries has added around Rs 27,000 crore to its market cap.
Every service provider, say analysts, now needs to make a much larger investment, and therefore needs a much larger share of the market to be profitable.
The merger will result in substantial cost and capex synergies with an estimated net present value of around USD 10 billion after integration costs and spectrum liberalisation payments, with estimated savings of USD 2.1 billion annually from the fourth year of the merger.
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
The entry of the deep-pocketed conglomerate is expected to heighten competition.
Finance Minister Arun Jaitley, in his Budget speech on Monday, announced a new dispute resolution mechanism for such companies who are in confrontation with the taxman's action.
The chief of the British telco's Indian subsidiary, which is the second largest cellular operator in India, also said the recent decisions by telecom authorities have disappointed the sector.
Sensex climbs higher at close, bluechip stocks in focus.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
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