India could sell about 10 percent of state-owned mobile operator BSNL in what would be one of the country’s largest ever IPOs. “It is being considered,” Minister Andimutha Raja told reporters. “We have to discuss that in the department.” Meanwhile BSNL’s Director of Finance, S.D. Saxena, said the company could sell 10 percent of the government’s holding for US$10 billion. “We value the company at US$100 billion,” commented Saxena, adding the proposed issue could hit the market in about a year’s time.

Such a move could be the country’s largest IPO, beating Reliance Power Ltd’s offering which is poised to raise about US$2.9 billion. BSNL is India’s fourth largest mobile operator by subscribers, with a total customer base of 32.3 million (source: Wireless Intelligence). Company officials have said the company plans to increase its customer base – mainly operating on the dominant GSM platform nationwide – to 108 million customers by 2010.