KKR & Co.-backed Advanta Enterprises Ltd. has hired four banks to arrange an initial public offering of the Indian seeds producer, which could raise $500 million, according to people familiar with the matter.
Axis Bank Ltd., JM Financial Services Ltd., and the Indian units of Morgan Stanley and JPMorgan Chase & Co. will be working on the deal, the people said, asking not to be identified as the information is private.
Advanta, a unit of Indian agrochemicals company UPL Ltd., is targeting a deal that would value the company at about $4 billion, though deliberations are ...
