India

The loans team at Standard Chartered in Hong Kong has undergone a number of changes, with new bankers coming into the fold to replace those who have left recently.

L&T Infotech, a unit of Indian conglomerate Larsen & Toubro, is set to raise Rp12.4bn ($183.4m) from its domestic IPO, having announced the price range and bookbuilding dates.

State Bank of India and JSW Steel have set sights on the offshore bond market, announcing their respective fundraising plans on the stock exchange.

PV Krishna, head of ECM for Goldman Sachs’ operation in India, is leaving the firm, according to a source familiar with the matter.

Volatility has reigned following the UK’s decision to exit the European Union last Friday. But market participants in Asia are now hopeful that the region’s high yield market will be a new go-to place for investors trying to redeploy their funds away from Europe.

India’s National Stock Exchange is planning to file a draft red herring prospectus by January 2017, according to a statement from the bourse on Monday.

India’s Mahanagar Gas has priced its IPO at the top guidance to a value of Rp10.4bn after a torrent of orders covered the book more than 60x.

India’s Aster DM Healthcare could become the next in a stream of healthcare IPOs in the country as it spies a listing that could raise up to Rp20bn ($294.3m).

Varun Beverages has filed a draft red herring prospectus to list in India, with the IPO slated for the end of the year under leads Axis Capital, Citic CLSA Securities and Kotak Mahindra Capital.

CP Pokphand, part of Thai firm Charoen Pokphand Group, has raised a $600m loan to repay outstanding debt.

HDFC Standard Life Insurance Co looks likely to drop its IPO plans and instead merge with Max Life Insurance Co, finding an opportunity for a backdoor listing.

Seven banks are set to pitch for lead roles in the Indian government’s sell-down of Oil India, which could add Rp19.7bn ($291.7m) to the state’s coffers based on the company’s market capitalisation.