JPMorgan and Moelis have been called into action for a second time in six months, after Indian metals billionaire Anil Agarwal revealed plans to hike his investment in miner Anglo American by up to £1.5bn.

Volcan Investments, the holding company of the family trust of Agarwal, said in a statement that it would invest between £1.25bn and £1.5bn in Anglo American shares by way of an exchangeable bond to be launched around October 10.