India

Indian Oil Corp (IOC) has opened a $300m five year borrowing into general syndication, offering three levels of participation to incoming lenders.

A subsidiary of Providence Equity Partners has raised Rp12.9bn ($193.3m) by offloading its remaining stake in Indian mobile network operator Idea Cellular, despite contrasting views on the stock posing a challenge to the block sale.

Novelis’s $1.8bn Asian refinancing of its US term loan B has seen four new lenders come in during syndication, as the leads hold out for several more large commitments.

Metals producer Hindalco Industries, a unit of Indian conglomerate Aditya Birla Group, has begun seeking interest for a Rp50bn ($749.5m) qualified institutional placement.

Société Générale has appointed a new head of global markets for India, giving him responsibility for developing the bank’s markets activities, including derivatives, foreign exchange and rupee products business.

India’s Jain Irrigation Systems plans to raise $75m via an offshore convertible bond to refinance an outstanding equity-linked deal.

The Indian government has raised Rp16.7bn ($250.5m) by selling a portion of its stake in Bharat Electronics through a popular offer for sale.

Credit Suisse has given two senior bankers responsibility over its private banking operations in India, the firm said on Friday.

India's Barbeque Nation Hospitality has picked one international and one domestic bank to lead its planned IPO, with the deal slated for this year.

ONGC Videsh (OVL), the overseas investment arm of Indian state-owned oil company ONGC, is tapping the loan market for longer dated debt to replace a bridge raised by one of its subsidiaries.

China Reading, the e-book publisher backed by Tencent Holdings, has picked Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley to lead its Hong Kong IPO, according to a source close to the matter.

HSBC’s equity capital markets head for India has left the bank, GlobalCapital Asia understands.