India

Eris Lifesciences is set to price its Indian IPO at the top of guidance to raise Rp17.4bn ($269.3m), after books closed multiple times subscribed, according to a banker on the deal.

India’s Bank of Baroda met investors this week on a non-deal roadshow in Europe and Asia.

For every step forward that the Masala bond market takes, it goes two steps backwards, with the Reserve Bank of India recently putting up barriers to keep high yield issuers out of offshore rupees. Cutting off low grade Masala issuance isn’t the worst thing to come out of the central bank’s announcement — the rules could also stifle investment grade deals.

Indian Energy Exchange has filed a draft prospectus with the market regulator as it looks to join the country's thriving equity capital markets.

India’s Au Small Finance Bank has set the price guidance for its IPO scheduled for later this month, expected to raise up to Rp19.1bn ($296.7m), said a banker close to the deal.

India’s Adani Ports and Special Economic Zone is gauging investor interest this week for a new 10 year bullet, less than a month after its board approved an up to $1.5bn debt-raising.

China Securities Regulatory Commission welcomes the prospect of A-share inclusion by MSCI, China’s State Council publishes a new negative list to make foreign investment easier in free trade zones, and the Asian Infrastructure Investment Bank (AIIB) makes its first equity investment.

Eris Lifesciences has signed up 37 investors as anchors for its Rp17.4bn ($269.5m) IPO in India, setting the stage for its listing with a strong launch message.

The private equity majority owners of Indian IT company Mphasis raised $500m on Tuesday from a five year non-call two deal, despite it having a structure that is quite unfriendly to bondholders.

Tejas Networks launched its Rp7.8bn ($120.8m) India IPO on Wednesday with Abu Dhabi Investment Authority as the largest anchor investor.

A $400m fundraising for Indian data analytics firm Mu Sigma has received commitments from five banks. Syndication for the deal, which was launched in March, remains open at the sub-underwriter level.

Reliance General Insurance Co (RGI) has added its name to the growing list of Indian insurers seeking an IPO, after its board approved the listing on Monday.