India

DBS India has appointed Niraj Mittal as managing director and head of institutional banking for the country, according to a press release issued on Tuesday.

National Bank of Abu Dhabi is betting big on India’s fast growing economy having opened a branch in Mumbai. While the purchase of Royal Bank of Scotland’s Indian foreign currency corporate loan book has given momentum to its business, the firm has bigger ambitions, NBAD’s chief executive officer for India told Shruti Chaturvedi.

India’s Mahanagar Gas has finalised the marketing range for its Rp10.4bn ($154.7m) IPO that is set to launch later this month, according to a source with direct knowledge of the deal.

Two domestic banks have thrown their hats in the ring to manage the Indian government’s planned sell downs in MMTC and State Trading Corp, which could raise a combined Rp7.7bn ($115.1m).

L&T Technology Services has named Bank of America Merrill Lynch, JM Financial, Kotak Mahindra Capital and SBI Capital Markets as the lead banks on its planned IPO in India.

The senior phase of a $405m loan for Blackstone’s acquisition of Indian fintech firm Mphasis has closed, with three new lenders coming in.

Samvardhana Motherson Automotive Systems Group finally broke India's high yield silence, printing the first trade in over a year. Market participants expect the success of the deal to encourage more Indian HY names to sell bonds the second half of the year.

The Asian ex-Japan high yield bond market received a boost on Wednesday with Samvardhana Motherson Automotive Systems Group and Xuzhou Economic and Technology Development Zone State-Owned Assets Management (Xuzhou ETDZ) opening books for their dollar debuts.

The Securities and Exchange Board of India is requesting public feedback as it makes tweaks to its guidelines on infrastructure investment trusts (InvITs) to spark the asset class into life.

The race is on for India’s first insurance IPO as ICICI Prudential Life Insurance lines up banks for its up to $400m float.

India’s first convertible bond since 2014 emerged this week, with Glenmark Pharmaceuticals raising $170m from an unusual trade that had to overcome regulatory hurdles, as well as a novel structure.

Indian mortgage lender HDFC is seeking $375m five year money in general syndication and is set to receive the entire loan from the leads this week.