Thursday, May 6, 2010

Citigroup (NYSE:C), Morgan Stanley (NYSE:MS) Managing Coal India IPO

Six investment banks are participating in the IPO of Coal India, including financial giants Citigroup (NYSE:C) and Morgan Stanley (NYSE:MS).

Other banks reportedly to be part of the IPO management include, DSP Merrill Lynch & Co., Deutsche Bank AG, Enam Securities Pvt. and Kotak Mahindra Capital Co.

The Coal India IPO is highly anticipated as it may end up being the largest IPO in the history of the country.

Estimates are the IPO could raise up to $2.9 billion, which would surpass the current record held by Reliance Power Ltd.

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