India

Renewable energy is at the very top of Premier Modi’s agenda. Finding the finance to match his ambition will be tough though

Debut issuer Jubilant Pharma ventured out to the international bond market on September 29, netting $300m from its first dollar-denominated transaction.

The names of banks backing Indian firm Intas Pharmaceutical’s bid for the UK and Ireland assets of Teva Pharmaceutical Industries have emerged.

Endurance Technologies is set to raise Rp11.6bn ($173.4m) after unveiling the price range for its India IPO, which launches on Wednesday.

An overnight share sale in India’s Kotak Mahindra Bank fetched Rp36.5bn ($545.6m) for ING Groep on Thursday, with the trade feted as one of the largest blocks in the country to price at a 0% discount.

A range of credits from India, Malaysia and Greater China stormed the Asian debt market on Thursday, vying for investor attention.

India’s Bharat Financial Inclusion, previously known as SKS Finance, has raised Rp7.5bn ($112.8m) through a highly sought after qualified institutional placement.

India’s UPL Corp is setting its sights on a dollar offering, and has obtained first time ratings from international agencies.

India has made great strides with the setting up of its first international financial services centre. The move is laudable, and most of the market feedback has been positive. But the authorities should not get complacent — a lot more needs to be done before the centre becomes the go-to destination for international capital market participants.

India’s Canara Bank is looking to return to the international debt market after a hiatus of nearly three years, having received the go-ahead from its board to sell dollar notes.

Azure Power Global, the holding company of Azure Power India, opened books on Thursday for a listing on the New York Stock Exchange, and is targeting as much as $180.3m.

Banks are queueing to set up shop in an international financial services hub in India — the first of its kind in the country. Institutions operating there enjoy certain regulatory exemptions, which are expected to give a leg-up to domestic lenders looking to build a foreign currency loan book. Shruti Chaturvedi reports.