India

National Highways Authority of India grabbed a Rp30bn ($465.88m) five year Masala bond on Thursday, despite the offshore rupee market not getting the enthusiasm that issuers want.

It was a slam dunk for India’s first infrastructure investment trust, which raised Rp46.5bn ($727.4m) after IRB InvIT Fund priced its IPO comfortably at the top of expectations.

State Bank of India is looking for up to six firms to lead a qualified institutional placement or follow-on public offer, issuing a request for proposals on Tuesday.

HSBC levfin banker moves to BAML — Axis Bank promotes HK credit head — UBS banking moves — Apac corporate finance head at FAB — AmBank hires from RHB — Citic CLSA names global M&A head — Sim to runhelm CMS equities — Asifma head of equities exits

National Highways Authority of India served up its debut Masala deal on Thursday morning, offering investors a second offshore rupee option in under a month.

The head of credit for Axis Bank in Hong Kong has been promoted, with the scope of his role widening following the bump up.

Shareholders of India’s Kotak Mahindra Bank have given it the nod to raise equity, in a deal that could fetch Rp57.3bn ($887m) based on its market price.

A $651m facility for Vedanta Group will be split into two tranches, one for overseas lenders and the other helmed by Indian banks, according to a banker close to the deal.

India’s most popular matchmaking website Matrimony.com has refiled for an IPO with a new syndicate team and a smaller fundraising target.

State Bank of India will pick up to six firms for a proposed qualified institutional placement or follow-on public offer, according to a request for proposals sent on Tuesday.

Indian Energy Exchange has hired two local banks for an expected Rp7bn ($108m) IPO slated for the current financial year ending March 2018, said sources close to the matter.

IRB InvIT Fund brought India’s first infrastructure investment trust to market last week, making history with its Rp46.5bn ($727.4m) IPO. Books closed with demand for nearly 9x the shares available, in a huge boon for the asset class. But while the trade sets a high bar, future issuers need not follow its template.