India

Greenko Investment Company is building books for what will be India’s first dollar-denominated green bond by a corporate issuer. On the same day, BoCom HK has returned with a three year dollar floater.

The Securities and Exchange Board of India’s (Sebi) move to give the country’s start-ups a leg up deserves an ‘A’ for effort, but is ultimately in vain. The regulator wants to make it easier for start-ups to list and raise funds, but it would be better off scrapping the proposal before getting anyone’s hopes up.

Two of India’s largest life insurers, HDFC Standard Life Insurance Co and Max Life Insurance Co, have finalised the terms of their merger and subsequent listing on the country’s stock exchanges.

There was no sign of a summer slowdown in Asia’s bond market last week with five deals pricing in one day. But that momentum has not carried over into this week as a public holiday takes out some of the heat. But any pause is likely to be temporary, say bankers.

Indian construction firm Dilip Buildcon is set to bag Rp6.6bn ($98.9m) from pricing its IPO at the top of guidance. It attracted a horde of investors, finding some share reservations nearly 80x subscribed.

Indian construction company Dilip Buildcon has raised a potential Rp6.6bn ($98.6m) from its IPO after a robust turnout from investors, with some portions nearly 80x subscribed.

India’s Infrastructure Leasing & Financial Services is planning to float an infrastructure investment trust later this year and is targeting a potential size of Rp15bn ($224.0m), according to a source familiar with the matter.

After a successful outing in the bond market in June this year, India's Samvardhana Motherson Automotive Systems Group returned for a tap on Wednesday, in what bankers described as an opportunistic transaction.

Indian Oil Corp has awarded two banks the bid for a $300m bridge loan to support the acquisition of stakes in Russian oilfields.

A year on from its initial effort to create a listing venue for the country’s start-ups, the Securities and Exchange Board of India (Sebi) is at it again. The regulator has relaxed the rules in its latest consultation, in a bid to get start-up listings off the ground. But unresolved issues mean this will be an uphill task, writes John Loh.

NTPC ventured into uncharted territory on Wednesday, issuing India’s maiden green bond denominated in offshore rupees. While the deal is expected to be the first of many, the development of the asset class depends on the stability of the currency and secondary market liquidity. Narae Kim reports.

Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way.