Eleven i-banks in race for NTPC sale

Centre plans to raise around Rs 13,000 crore from the year's largest sale

At least eleven top investment banks are in the race for mandate to handle the proposed offer for sale by state-owned power producer National thermal Power Corp (NTPC).

The banks in fray include local players such as Kotak Mahindra Capital, Enam Securities, ICICI Securities, SBI Capital Markets, and IDFC Capital. Foreign banks that have shown interest in running the sale are Barclays, Deutsche, Goldman Sachs, Macquarie, JP Morgan and  Morgan Stanley. In November, the cabinet cleared a 9.5 percent stake sale in NTPC. The government is looking at raising over Rs 13,000 crore from the stake sale, post which it'll retain 75 per cent stake in NTPC.