Vodafone will file an application in October 2013 with India's foreign investment promotion board to seek clearance for the investment, the report said, citing two people familiar with the situation.

Vodafone could not immediately be reached for comment. According to the report, the size of the investment suggested that the world's second-largest telecom operator will not up its stake to 100 percent.

In July, India approved raising the foreign investment limit in the telecom sector to 100 percent from 74 percent in a bid to lure capital inflows, prop up a sliding currency and boost growth.

Vodafone is considering buying out some minority investors including billionaire industrialist Ajay Piramal, who holds 11 percent stake in Vodafone India.

Vodafone owns about 64 percent of Vodafone India, while 25 percent is controlled by undisclosed minority shareholders, who are understood to include Analjit Singh, chairman of Vodafone India, the report said.


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