Essar is in talk with various banks to see the option of going for a Intial Public offering of its Vodafone Essar Stake .Earlier In 2007, Vodafone entered india by buying into a controlling stake in Hutchison Whampoa Ltd’s mobile business in India, in which Essar had been a partner.
This particular deal gave Essar the option to sell its entire 33 percent stake in the telecom venture to Vodafone for $5 billion between the third and fourth years after the deal’s completion.Alternatively, Essar could sell shares worth between $1 billion and $5 billion in the company to Vodafone at an independent valuation.The option for the sale opened in May and runs for 12 months.None of Essar or Vodafone is commenting on this so this might be just another rumor news or this might be real also.Vodafone has yet to decide on its response and is waiting for Essar to make a proposal.

Vodafone Essar IPO – Might come soon is a post from: First Blog for Indian Financial Market