Indian power equipment maker Bharat Heavy Electricals Limited (BHEL) is planning to raise $1 billion in sale of its shares, Bloomberg reports. Citigroup and Goldman Sachs are among 17 financial firms competing to manage the issue.
Morgan Stanley, Deutsche Bank, UBS, RBC and SBI Capital Markets are also seeking to the secure the mandate. The Indian power equipment maker will sell 5% of its equity through the transaction.
Click here for the story from Bloomberg.