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Institutions line up to run India share offerings
CommentsBank of America Merrill Lynch, Barclays Plc and JPMorganChase & Co. are competing to sell shares for state-run companies in India as the government plans the biggest sell-off in at least five years.
JPMorgan hopes for a “slew of disinvestment” by state-run companies, said Kalpana Morparia, the bank’s chief executive officer in India. Prime Minister Manmohan Singh’s government pledged last week to reduce its holdings in profitable state-owned companies to 90 percent, accelerating a fundraising program that languished for five years.
News Tribune news services
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