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Market Chatter: NLC India Taps Four Banks for Renewables Unit IPO

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NLC India (BOM:513683, NSE:NLCINDIA) has appointed four investment banks to manage the initial public offering of its renewable energy unit, Bloomberg News reported Friday.

SBI Capital Markets, IIFL Capital Services, IDBI Capital Markets & Securities and HDFC Bank will manage the planned listing of NLC India Renewables, the report said, citing an emailed statement from the state-run miner.

NLC India may sell up to a 25% stake in the unit under a plan that its board approved in principle in January, Bloomberg added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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