India Shortlists Goldman Sachs Group Inc, Citigroup Inc And Others For NTPC Ltd Share Sale-Reuters

Reuters reported that India has shortlisted six banks, including Goldman Sachs Group Inc, Citigroup Inc and Morgan Stanley, for a selldown of state shares worth $2.3 billion in power producer NTPC Ltd. Others shortlisted by the Indian government's department of disinvestment for the NTPC Ltd offering are Deutsche Bank AG and India's SBI Capital Markets and Kotak Mahindra Capital. India's cabinet approved a 9.5% stake sale in NTPC in November to help rein in its ballooning fiscal deficit. At current market price, the sale could raise as much as $2.3 billion for the government. The NTPC stake sale is likely to be completed by the end of this month.