India

State Bank of India has hired a six-strong team of foreign and domestic firms to lead its up to Rp150bn ($2.3bn) capital raise, according to a banker on the mandate.

Adani Ports and Special Economic Zone is planning to raise up to $1.5bn via a domestic or international bond offering, and is also exploring a possible issuance of equity or convertible bonds.

A $400m fundraising for Indian data analytics firm Mu Sigma has received commitments from two banks. The leads on the loan had invited lenders to join as sub-underwriters in March.

South Korean carmaker Kia Motors has sent a request for proposals for a $648m financing to back the construction of a manufacturing facility in India, its first in the country. The loan is receiving plenty of attention from lenders looking to capitalise on opportunities in the south Asian country. Shruti Chaturvedi reports.

Reliance Infrastructure has received the final go ahead from India’s market regulator to list its infrastructure investment fund, putting it on track to be the country’s third InvIT IPO.

The Indian government is hearing pitches from 10 firms on Thursday for its sell down in Indian Oil Corp worth some Rp62bn ($956m).

India’s divestment body has set the pitching schedules for bidders on the IPOs of state-owned Rail Vikas Nigam (RVNL) and Rites, according to announcements on its website.

The first IPO of an Indian state firm in five years met with roaring approval from investors, as Housing and Urban Development Corp’s (Hudco) success in primary spilled over into its trading debut. Books were nearly 80x covered and the stock has surged as much as 30%. But it would be a mistake to read too much into the deal.

India’s Corporation Bank has won approval from its board of directors to raise up to Rp35bn ($540.2m) in capital, according to an exchange filing on Monday.

India’s third largest private bank Axis Bank has sent out a request for proposal for a $295m syndicated loan for Dubai’s hospital group Aster DM Healthcare.

India Grid Trust has priced its Rp22.5bn ($351m) IPO at the high end of the range despite being stung by IRB InvIT Fund’s poor debut.

India’s divestment body has pushed back the request for proposals deadline for merchant banker and selling broker positions on the sell-down in mining and power firm NLC India.