Bhushan prepares for float

Indian company Bhushan Power & Steel Group is planning a £450m flotation next year after appointing investment banks JPMorgan Chase and Credit Suisse to oversee it, according to reports out yesterday. Officials at the company's headquarters in New Delhi could not be immediately reached to comment on the report. Last month, Indian energy group Jubilant Energy JUB.L raised around $85m (£53.9m) after listing shares on London's AIM junior stock market.