India

The board of directors of India’s Delta Corp has given the go ahead to raise Rp7.5bn ($114.6m) of equity capital using a qualified institutional placement.

United Bank of India has set the floor price for its Rp15bn ($229.1m) qualified institutional placement, which has been in the works for over a year.

State Bank of India and mortgage firm Housing Development Finance Corp are both planning offshore bonds this year, with the former eyeing foreign currency and the latter rupee.

The leads on Indian data analytics firm Mu Sigma’s $400m fundraising have invited lenders to join at the sub-underwriter level, according to bankers.

India’s insurance regulator has come out with guidelines for insurers looking to invest in real estate and infrastructure investment trusts (Reits and InvITs), as the country continues its march towards the introduction of these asset classes.

Reliance Infrastructure’s board of directors has given the go ahead for an up to Rp20bn ($305.0m) qualified institutional placement, according to a stock exchange filing.

A bold £2bn mandatorily exchangeable bond issue for Anil Agarwal, founder and chairman of Vedanta Resources, captured global headlines on Wednesday and Thursday as he used it to buy a stake of about 12% in Anglo American, the mining group.

State Bank of India’s central board has agreed a plan to raise up to Rp150bn ($2.3bn) in the equity capital market, according to a stock exchange filing on Wednesday.

Avenue Supermarts upended the Indian equity capital market with its IPO, pricing the Rp18.7bn ($281m) deal at the top of expectations after receiving $20bn in orders.

India’s divestment department has extended the date by which banks should submit bids for a lead position on a trio of sell-downs in state-owned railway companies.

State Bank of India, which allocated its most recent fundraising only a few weeks ago, is back in the market already for a $500m three year facility. A group of 13 lenders is processing approvals to lead the new deal.

India’s RMZ Corp is looking to spin off its assets into a real estate investment trust (Reit), with the IPO possibly raising some Rp20bn ($305m).