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Vodafone Group has set the ball rolling for its long-awaited India IPO by inviting banks, including Citigroup, Goldman Sachs and Morgan Stanley, to submit pitches to manage it, people with direct knowledge of the deal said.
The listing of Vodafone 's Indian unit is expected to raise between $2 billion and $2.5 billion, the people said, making it the biggest IPO since state-owned Coal India Ltd's $3.5 billion listing in 2010. Vodafone had raised the prospect of a listing in India as early as 2011.
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