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As many as 10 merchant bankers are in the fray to bag the mandate for the proposed initial public offering of NBCC Ltd.
These merchant bankers have been asked to make presentations before the disinvestment department. The presentations are scheduled on Thursday and Friday, after which the book running lead managers will be selected, sources said.
Indications are that the Government may push the IPO of NBCC in the current fiscal. The public offerings of ONGC and SAIL had received Government nod and may hit the market in a few months. The Government is also looking to divest stake in Hindustan Copper this fiscal.
The merchant bankers in the fray include IDBI Capital Market services, Enam Securities, State Bank of India, J.M. Financials, ICICI Securities, Kotak Mahindra Capital, Yes Bank, Avendus an Edelweiss Capital.
NBCC, a Government owned company, is the country's largest public sector construction company. For the year ended March 31, 2010, the company recorded a turnover of Rs 2,982 crore.
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