India

Bharat Petroleum Corp (BPCL) has approached banks for a $150m five year bullet to take out the remainder of a $750m bridge raised through three bilaterals last year.

A group of four lenders are close to clinching the mandate for a financing to support the purchase of a stake in Indian data analytics firm Mu Sigma.

When the Reserve Bank of India brought in guidelines that forced borrowers to hedge shorter-dated debt in a bid to encourage longer-term financing, it was met with an outcry about the feasibility of such a plan. But now that Power Finance Corp is out for a 10 year borrowing and set to receive a strong reception, it appears the central bank’s tough stance is paying off.

India’s Avenue Supermarts is set to price its Rp18.7bn ($281.0m) IPO at the top of guidance after an explosion of demand on the final day of bookbuilding covered the offer more than 100 times over, according to a banker working on the deal.

Animal feed and agribusiness firm Godrej Agrovet has taken a step closer to its potential IPO, hiring Kotak Mahindra Capital as one of the bookrunners, according to a source familiar with the situation.

State Bank of India will be returning to ECM after a three year hiatus if it obtains board approval next week for a fundraising exercise.

India’s Avenue Supermarts launched bookbuilding for its potential Rp18.7bn ($280.6m) IPO on Wednesday, managing to cover it by the second day.

Eros International failed to price its new dollar bond on Tuesday, as the high yield market stuttered and investors pushed back on pricing for the Indian film maker’s international debut.

India’s Avenue Supermarts has opened the gates to its potential Rp18.7bn ($280.6m) IPO after securing nearly a third of the offering with anchor investors.

State Bank of India has increased its latest fundraising in the syndicated loan market to $750m, fully exercising a $150m greenshoe. Allocations to the foreign branches of Indian banks accounted for 40% of the final facility.

Indian film maker and distributor Eros International has launched its maiden dollar bond with books building quickly during the Asia morning, as it competes with Export-Import Bank of China.

India’s Power Finance Corp has reached out to overseas lenders for a $100m-equivalent borrowing in euros. Its request for 10 year money follows an attempt at a fundraising in 2016 that was scrapped because of mandatory hedging requirements.