The group is said to have begun the process of selecting investment banks for the planned IPO and has asked that banks sign non-disclosure agreements ahead of receiving further detailed information on the list, according to Bloomberg.
Advisors for the IPO could be selected by next month in a deal that could value the Indian operations at about $20 billion.
In February, Vodafone’s CEO Vittorio Colao revealed plans to list the India unit but cited challenges around the “complicated” process and its exact timing.
