The Initial Public Offer (IPO) of Vodafone India has been kept on hold for some more time. In view of the recommendations on spectrum allocation by the Telecom Regulatory Body of India (TRAI) the Company has postponed its plans for an IPO.
Reportedly TRAI?s recommendations on a high base price for auction, re-distribution of spectrum have led Vodafone India to decide against coming out with an IPO.
Marten Pieters, Managing Director and Chief Executive Officer, Vodafone India, stated, ?If the TRAI recommendations go through, there might be many spectrum auctions in the year. It is unlikely that we can go for an initial public offer in the middle of all that.?
Pieters also maintains that the TRAI recommendations are completely out of line and that TRAI proposal on re-farming of spectrum, is not practical in India. ?The recommendations can impact tariffs in cities like Mumbai and Delhi by Rs 1 per minute.
