MSETCL Appoints Six Banks for $800 Million IPO

Maharashtra State Electricity Transmission Co. has appointed six investment banks to advise on a planned initial public offering. The power transmission utility, which operates in India's wealthiest state, aims to raise up to $800 million through the proposed share sale.

The company selected SBI Capital Markets Ltd., Axis Capital Ltd., Motilal Oswal Investment Advisors Ltd., Avendus Capital Pvt., IIFL Capital Services Ltd., and HDFC Bank Ltd. to serve as advisers for the transaction.