State Bank of India (SBI) top stories

• Investors balk as ONGC chances loose covenants

  

  Oil and Natural Gas Corp (ONGC), the largest crude oil and natural gas company in India, tussled with bond investors during marketing for its latest dollar deal this week. Investors pushed back against ONGC’s demanding terms and forced a last-minute flip-flop over a change of control clause. Morgan Davis reports.

  • 28 Nov 2019

• SBI Cards sets ball rolling on $1.3bn India IPO

  SBI Cards and Payment Services filed listing documents with India’s regulator this week for an IPO of up to Rp95bn ($1.33bn). The deal is on track to be the largest listing the country has seen for more than two years, writes Jonathan Breen.

  • 28 Nov 2019

• SBI readies Rp80bn share sale in card business IPO

  State Bank of India is looking to raise about Rp80bn ($1.1bn) by selling a minority stake in SBI Cards’ planned jumbo IPO, according to a banker on the mandate.

  • 12 Nov 2019

• Axis Bank to take home Rp100bn from equity placement

  Axis Bank is looking to raise Rp100bn ($1.4bn) from a primary share sale to boost its capital adequacy ratio, according to sources close to the deal.

  • 20 Sep 2019

• SBI offers Rp27bn stake in life insurance unit

  State Bank of India is looking to raise at least Rp26.95bn ($378m) from a stake sale in SBI Life Insurance Co, receiving a flood of early demand.

  • 13 Sep 2019

• Bajaj Energy wins Sebi approval for Rp55bn IPO

  Power plant operator Bajaj Energy has got the greenlight from India’s market regulator to launch a Rp54.5bn ($756.7m) IPO of primary and secondary shares.

  • 04 Sep 2019

• Carlyle-backed SBI Card seeks bookrunners for IPO

  SBI Cards and Payment Services, the credit card subsidiary of State Bank of India, has invited investment banks and lawyers to submit proposals to work on its IPO.

  • 20 Aug 2019

• Sterling and Wilson Solar gets Sebi nod for Rp45bn listing

  India’s securities regulator has given the greenlight for Sterling and Wilson Solar’s IPO, which could raise up to Rp45bn ($655m).

  • 09 Jul 2019

• India’s Sterling and Wilson Solar preps Rp45bn listing

  Sterling and Wilson Solar, the solar power business of Indian conglomerate Shapoorji Pallonji Group, is eyeing a listing of up to Rp45bn ($648m), having filed a draft prospectus this week.

  • 17 Apr 2019

• Emami Group nabs $223.5m from share sale

  The controlling shareholders of India’s Emami Group sold a 10% stake in the company to pay off debt this week.

  • 19 Feb 2019