Macleods Pharmaceuticals picks banks for $1-billion offering

The Mumbai-based company is planning to file its initial draft prospectus by January and is targeting a listing as soon as next year, the people said

Indian drugmaker Macleods Pharmaceuticals Ltd. has selected banks including Edelweiss Financial Services Ltd. and ICICI Securities Ltd. to manage its Mumbai initial public offering, according to people familiar with the matter.
 

The 35-year-old company has also picked JPMorgan Chase & Co. for the listing, the people said. More bankers could be added later, they said, asking not to be named as the information is private. Macleods could raise about $1 billion from the listing, one of the people said. 

The Mumbai-based company is planning to file its initial draft prospectus by January and is targeting a listing as soon as next