HAL Shortlists Goldman Sachs, 3 Others For $200M IPO

State-run military aircraft maker Hindustan Aeronautics Ltd has shortlisted four banks including Goldman Sachs and Barclays for an initial public offering that is likely to raise $200 million, sources with direct knowledge said.

The company has also shortlisted SBI Capital, a unit of the country's largest lender State Bank of India, and Enam Securities, said two sources, who declined to be named as the information was not public yet.

The share sale is expected to be launched in the next fiscal year that begins on April 1, the sources said.