India

The Bombay Stock Exchange has set up an escrow account for shareholders to tender their shares for sale in the exchange’s upcoming offer-for-sale, which will ultimately be part of its IPO, according to a document on the bourse’s website.

Indian mortgage lender HDFC has received about $100m worth of commitments during general syndication of its $375m five year loan.

The Masala bond market finally sprang into life this week as Housing Development Finance Corp sealed the first offshore rupee deal from an Indian corporate. With a benchmark now set and the currency one of the better performers this year, market watchers said the door has opened for peers to follow. Rashmi Kumar reports.

Indian equity capital market volumes may be down on last year, but there is no dearth of IPOs. The animal spirits are clearly present in the country as confidence grows in new companies, which are coming in greater numbers to tap both foreign interest and a resurgent domestic investor base. Jonathan Breen and John Loh report.

The India government has given the nod for a 15% stake sale in state-owned National Buildings Construction Corp to raise a potential Rp17bn ($253.9m).

India’s Rural Electrification Corp (REC) has sent banks a request for proposals for a new $150m loan.

ONGC Videsh is ready to return to the dollar debt market after a hiatus of two years, mandating banks for a potential offering on Wednesday.

The Indian government is planning to launch an IPO to offload part of its position in Housing and Development Corp (Hudco) and has sent out a request for proposals to lead the transaction.

Housing Development Finance Corp is set to put its name in the history books after launching the very first Masala bond from an Indian issuer on Monday evening. The offshore rupee trade has been a long time coming but if successful, it could unleash a torrent of new issuance from Indian firms.

India’s L&T Infotech has kicked off bookbuilding for its up to Rp12.4bn ($184.9m) IPO after placing a third of the offering with anchor investors.

India’s government has kicked off a plan to offload its minority stakes in 51 listed and unlisted companies, issuing a request for proposals to select three banks that will lead the share sales.

India’s HT Global IT Solutions Holdings took a two-pronged approach to pricing its $300m high yield bond on Thursday as finding the best comparables posed a challenge.