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  • Syndicate Bank has become the latest in a string of Indian state-owned lenders to opt for a qualified institutional placement, looking to raise up to Rp12bn ($186.2m) in primary capital.
  • India’s Natco Pharma raised Rp9.15bn ($142m) this week, using a qualified institutional placement to sell the new stock.
  • State-owned Indian lender Punjab National Bank has wrapped up a Rp50bn ($775m) capital raise through a qualified institutional placement (QIP), according to a banker on the deal.
  • Indian state-owned Canara Bank is seeking up to Rp35bn ($543.9m) through a qualified institutional placement, and is looking to hire firms to run the deal.
  • Union Bank of India has become the latest financial institution to use the qualified institutional placement route to raise capital, as the country’s banks head to the public market to plug their capital shortfalls.
  • Underwriters of Banca Carige’s €500m rights issue were jubilant on Thursday, when the results of the deal showed it had attracted about €200m of demand in the open market — almost exactly the amount needed for the banks to avoid having to buy shares, and underlining that the Italian lender has been rescued in an orderly way by private sector investors, a first in recent Italian history, writes Jon Hay.