Reliance Jio effect: Vodafone may prefer delaying IPO even further - Indian IPO Blog

Indian IPO Blog

Insights into investing world in India

Monday, December 12, 2016

Reliance Jio effect: Vodafone may prefer delaying IPO even further

Vodafone India, the No.2 mobile phone carrier by market share and revenue, and other players in India’s telecoms market have been clearly impacted by the entry of Reliance Jio and the crazy free deals that it comes with - seems so atleast till now

The operating profit of Vodafone India declined 24.3% to Rs.1,798.4 crore in the half year to 30 September from Rs.2,375.98 crore in the same period during earlier year. Revenue also had witnessed a decline Rs.22,053.8 crore from Rs.22,574.59 crore

Under the circumstances, it seems highly unlikely that the company may muster the courage to come up in limelight and go ahead with the IPO anytime soon

Earlier, the chief executive of Vodafone had said “Competition in India has increased in the year, reducing revenue growth and profitability. We have responded to this changing competitive environment by strengthening our data and voice commercial offers and by focusing our participation in the recent spectrum auction on acquiring frequencies in the more successful and profitable areas of the country.”

No comments:

Post a Comment

SEBI pushes to lower IPO Listing timeline to T+3 days

IndianIPOBlog has learnt that SEBI haa lowered IPO listing timeline to T+3 from current T+6 SEBI chairman Ajay Tyagi announced the deci...