Bharat Heavy Electricals has shortlisted Bank of America Merrill Lynch , Morgan Stanley and two Indian banks to manage its share sale valued at about $1 billion, sources with knowledge of the situation said.
The state-run top power gear maker has also shortlisted Kotak Mahindra and ICICI Securities , a unit of India's No. 2 lender ICICI Bank , for bookrunning the share sale, three sources said on Tuesday.
The sources declined to be named as the information was not public yet.
The Indian government plans to sell 5 percent of its stake in BHEL through the follow-on public share offering, the timing of which is yet to be decided. At current market price, the stake is valued at about $1 billion.
ref:
http://economictimes.indiatimes.com/markets/ipos/fpos/rights-issues/bhel-shortlists-bank-of-america-merrill-lynch-morgan-stanley-kotak-mahindra-and-icici-securities-for-share-sale/articleshow/9286921.cms
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