Citigroup and Merrill Lynch have won bookrunning mandates on the $1.5bn (â¬953m) listing of an Indian energy company, a move which could boost the banks positions in equity capital market league tables as banks jostle for market share in the region.
The US banks will advise on the $1.5bn flotation of Gujarat Petroleum's, India's biggest listing since utility Reliance Power's came to the market in January. Citi and Merrill are working alongside local banks JM Financial, Kotak Mahindra and SBI Capital Markets on the oil company's listing.
