MSEDCL appoints 8 bankers for Rs 10,000 crore IPO

MSEDCL has appointed eight investment bankers — SBI Capital Markets, Axis Capital, IDBI Capital Markets & Securities, ICICI Securities, HDFC Bank, IIFL Capital Services, DAM Capital and Motilal Oswal Investment Advisors — to manage its around Rs 10,000 crore IPO. The listing will be under the Mahavitaran brand, which provides power to the bulk of consumers in Maharashtra excluding the city of Mumbai. The utility carries significant debt on its balance sheet.