JP Morgan is set to challenge rivals Merrill Lynch and Citigroup in the Indian bookrunner rankings after scooping the mandate on India's biggest initial public offering, the $3bn (â¬2bn) float of energy company Reliance Power.
Reliance Power appointed the US bank along with ABN Amro, Deutsche Bank, Macquarie Bank, Enam Securities, ICICI Securities, JM Financial, JP Morgan, Kotak Mahindra and UBS. They will sell 260 million shares on the Bombay and National Exchanges later this month.
