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Govt shortlists Citi, Kotak among 6 to advice on NMDC selloff

Govt shortlists Citi, Kotak among 6 to advice on NMDC selloff
PTI
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First Published: Sun, Jan 10 2010. 02 04 PM IST
Updated: Sun, Jan 10 2010. 02 04 PM IST
New Delhi: Six leading bankers, including Citigroup and Kotak Mahindra, are learnt to have been shortlisted for managing the estimated Rs14,000-crore divestment programme of state-owned iron ore producer NMDC.
Last month as many as 17 investment bankers had made presentations to the inter-ministerial group (IMG), set up under the Finance Ministry, for advising the government on the follow-on-public offer (FPO) of the country’s largest miner.
“The IMG shortlisted six bankers, which include Citigroup, Kotak Mahindra, RBS Equities, UBS Securities, Morgan Stanley and Edelweiss Capital to advice on the FPO,” one of the investment bankers told PTI today.
The IMG also shortlisted the Mumbai-based law firm Crawford Bayley to advice on the share sale from the seven firms which presented their cases before it in December, a Finance Ministry official said, who also confirmed the appointment of the six bankers as book runners-cum-lead managers of the FPO.
The development could not be confirmed independently with the shortlisted bankers or the law firms.
ICICI Securities, Citigroup, Morgan Stanley, SBI Caps, JM Financial, Kotak Mahindra, IDFC-SSKI, Enam Securities, DSP Merril Lynch, Deutsche Bank, Nomura Financial, IDBI Capital, Edelweiss Capital, Axis Bank, Karvy Investors, RBS Equities, and UBS Securities comprised the 17 banks which made presentations to the IMG.
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First Published: Sun, Jan 10 2010. 02 04 PM IST