India

Adani Ports and Special Economic Zone, one of India’s largest port operators, is planning a comeback to the international bond market after more than a year.

Hindalco Industries, the flagship metals arm of Indian conglomerate Aditya Birla Group, said it is considering an equity raise that will be the company’s first in seven years, as its shares trade near highs not seen since August 2014.

Haitong International Securities Group will bring Haitong Securities India under its umbrella by acquiring the unit from its Portuguese affiliate. The move is part of the Hong Kong-based broker’s efforts to position itself as a boutique investment bank in Asia Pacific.

The investment banking arm of Bank of Baroda has tapped Ratnesh Kumar as managing director and chief executive officer, with his appointment taking effect on November 1.

Four Masala bonds, totaling £600m ($751m), are expected to be issued in London in the next three months, UK prime minister Theresa May said in a press conference during a trade visit to India this week.

Government agency Specified Undertaking of the Unit Trust of India (Suuti) has offloaded a part of its stake in conglomerate Larsen & Toubro via an accelerated bookbuild, raising Rp19.8bn ($296.7m).

PNB Housing Finance and Varun Beverages priced their respective IPOs in India at the top of the range this week, fetching Rp41.1bn ($616.9m) between them.

Lenders are working on credit facilities to back the potential acquisition of a stake in Indian company Bharti Infratel by private equity firms.

Indian Oil Corp, is looking to refinance a $300m bridge loan, having picked Citi and DBS to supply it three months ago for an acquisition.

Blackstone held pitch meetings with banks in India earlier this month for what would be the country’s first real estate investment trust, at a possible size of $1bn.

PNB Housing Finance is set to price its Rp30bn ($450m) IPO in India at the top of the expected range after investors piled into the trade, allowing it to wrap up with books 30x covered.

Investors have greeted India’s latest IPOs with open arms, as PNB Housing Finance and Varun Beverages seek to raise Rp41.1bn ($616.9m) this week.