<p>UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans.<br /><br /></p>.<p>According to sources, Vodafone India has roped in investment bank NM Rothschild to assist the company in its listing plans.<br /><br />When contacted the company spokesperson, however, declined to comment.<br />Sources said Rothschild will assist Vodafone to clear the regulatory hurdles, help in price discovery and valuation, restructure the complicated shareholding pattern and even help appoint the book-runners at a later stage.<br /><br />Last year, the company had organised in Mumbai a meet of global investors and analysts in which it had disclosed financial and other operational details.<br /><br />Vodafone India Chief Executive Officer Martin Pieters also made an internal announcement to employees, updating them with the IPO plan.<br /><br />India is one of the biggest markets for the company. It has nearly 146 million subscribers.<br />Last year, Vodafone had bought out Indian partner Essar's 33 per cent stake in the joint venture for USD 5.4 billion.<br /><br />That transaction took Vodafone's ownership to 75.35 per cent, more than the prescribed Foreign Direct Investment (FDI) limit of 74 per cent.<br /><br />Domestic company Piramal Healthcare picked up a strategic 5.5 per cent in Vodafone for USD 640 million. The Piramal investment helped Vodafone meet regulatory requirements.<br />The Vodafone Group entered India in 2007, after buying out Hutchison's 67 per cent stake in its telecom venture with Essar for USD 11.2 billion.<br /><br />For the six months ended September 30, the operating free cash flow stood at USD 519 million.<br /><br />The company also awaits the final ruling in the tax dispute wherein the Income Tax Department had slapped a fine of USD 2.5 billion on Vodafone.</p>
<p>UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans.<br /><br /></p>.<p>According to sources, Vodafone India has roped in investment bank NM Rothschild to assist the company in its listing plans.<br /><br />When contacted the company spokesperson, however, declined to comment.<br />Sources said Rothschild will assist Vodafone to clear the regulatory hurdles, help in price discovery and valuation, restructure the complicated shareholding pattern and even help appoint the book-runners at a later stage.<br /><br />Last year, the company had organised in Mumbai a meet of global investors and analysts in which it had disclosed financial and other operational details.<br /><br />Vodafone India Chief Executive Officer Martin Pieters also made an internal announcement to employees, updating them with the IPO plan.<br /><br />India is one of the biggest markets for the company. It has nearly 146 million subscribers.<br />Last year, Vodafone had bought out Indian partner Essar's 33 per cent stake in the joint venture for USD 5.4 billion.<br /><br />That transaction took Vodafone's ownership to 75.35 per cent, more than the prescribed Foreign Direct Investment (FDI) limit of 74 per cent.<br /><br />Domestic company Piramal Healthcare picked up a strategic 5.5 per cent in Vodafone for USD 640 million. The Piramal investment helped Vodafone meet regulatory requirements.<br />The Vodafone Group entered India in 2007, after buying out Hutchison's 67 per cent stake in its telecom venture with Essar for USD 11.2 billion.<br /><br />For the six months ended September 30, the operating free cash flow stood at USD 519 million.<br /><br />The company also awaits the final ruling in the tax dispute wherein the Income Tax Department had slapped a fine of USD 2.5 billion on Vodafone.</p>