Spice Global, the holding entity of Spice Mobility, will hold a crucial meeting of merchant bankers and advisors in London next week to take final inputs from them on the plan to raise $1 billion through global listing.

The group might go for listing on London, Hong Kong or the US bourse to raise funds.

“We will have clarity on timing and contours of the issue after the meeting,” Mr Dilip Modi, Managing Director of Spice Mobility, told Business Line .

He indicated that listing could happen during the financial year.

Mr Modi, who heads Assocham, was here in connection with the global summit on ‘Green Revolution – II' organised by the chambers here on Wednesday.

The $1.4-billion entity, which sells 1.5-2 million handsets a month, would also list the retail and value added services (VAS) arms of Spice Mobility.

‘Apple of Asia'

While it would wait for FDI norms for retail sector, the company could for listing of its VAS arm. “The digital VAS is ready for listing,” he said.

Mr Modi said Spice Mobility was in talks with chipset makers in South-East Asia, who produced low-cost products with high processing capabilities. “Our aim is to become an Apple of this part of the world. Apple comes out with interesting products such as iPad but these are very expensive. How do we offer similar experience at lower prices?”

He said Spice would come out with mobile phones with richer applications and tablets at a later stage.

Spice Mobility, which is mostly focussed on five States, will go for nationwide expansion. “We will implement this in the next five quarters. We have divided the country into seven clusters, each cluster having to t- three States. We will go for focussed brand building in these clusters,” he added.

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