India

ICICI Lombard General Insurance, India’s largest private sector non-life insurer, is set to launch its IPO on September 15, and is eyeing up to Rp57bn ($892.8m).

General syndication for Indian data analytics firm Mu Sigma’s debut loan is in its last leg, with three banks having committed so far.

K Balasubramanian is returning to Citi as the new head of corporate banking for India, succeeding Rahul Shukla who will turn his focus to senior client coverage.

ONGC Videsh (OVL) has closed its dual currency $844m equivalent loan with just one lender joining the dollar tranche in syndication, said a banker who arranged the borrowing.

DBS Group Holdings has received approval from the Reserve Bank of India to establish a wholly-owned local subsidiary in the country, a big fillip to a firm that was Singapore’s first bank to set up a representative office in India.

Indian conglomerate Larsen & Toubro has laid out plans to float an infrastructure investment trust, giving the fledgling asset class a boost.

Adani Abbot Point Terminal, a unit of Indian conglomerate Adani Group, is hunting for an A$250m ($199m) syndicated loan, with the deal open to new lenders.

The Singapore-based arm of IDFC Securities has appointed a chief executive officer, a newly created position after it obtained a capital markets services licence for the city-state.

India’s HT Global IT Solutions Holdings is returning to the dollar market for a tap of its debut notes sold last summer.

Indian state-owned Vijaya Bank raised Rp7bn ($109m) from a qualified institutional placement on Thursday, jumping on the chance to tap equity investors after an impressive rally in its stock price.

India's sale of stock in energy company NTPC was meant to be the largest on record this week, worth as much as Rp138.5bn ($2.2bn). But the deal missed the mark after a muted response from retail investors.

Indian company Srei Equipment Finance is seeking an up to $150m five year loan from the offshore market.