The Vodafone Group is considering acquiring a part of the stakes of two of its minority shareholders Asim Ghosh and Analjt Singh.

The two shareholders have already applied to the Foreign Investment Promotion Board (FIPB) for approval. Ghosh, former managing director of Vodafone Essar, has a 4.68 per cent stake in Vodafone Essar through investment firm AG Mercantile, and intends to sell part of it for about Rs 3.3 billion.

Singh, through three of his companies, has an effective shareholding of 7.58 per cent in Vodafone Essar. He intends to sell part of his stake for over Rs 5 billion. After clearance from FIPB, Ghosh's and Singh's stakes in Vodafone Essar will come down to 2.39 per cent and 3.87 per cent respectively.