Vodafone Group Plc is reportedly planning an initial public offering (IPO) for its Indian business, according to a person familiar with the matter.

Report says that Investment bank Rothschild is preparing a report about the profits of a possible IPO, set to be weighed around August.

An IPO would load Vodafone with cash and allow investors to stake specifically in India. Representatives for Vodafone and Rothschild refused to comment. Earlier, CNBC-TV18 reported Newbury, England-based Vodafone's plan toward an IPO for the India unit.

In the latest fiscal year, the earnings of the Vodafone's Indian division before interest, taxes, depreciation and amortization reached ?1.28 billion ($2 billion) on sales of ?4.3 billion. Vodafone, India's second largest wireless operator was among the service providers who are investing $18 billion in the country's airwaves auction this year.

Last year,in an interview, Marten Pieters, head of Vodafone India Ltd at the time said that the company won't think about an IPO of the unit until it is sure about its access to airwaves. Early this year, Indian authorities held they won't file a petition against the court ruling that favored Vodafone in a tax dispute since the country is working hard to assure foreign investors about governance rules.