India

Indian issuers accounted for just a fraction of Asia’s bond market last year. But the potential for growth is vast — particularly in the offshore rupee debt market — with state-owned companies expected to lead the way for Masala issuance from the country. Rashmi Kumar reports.

Modi brought India back from the abyss on the promise of change. It’s now high time for him to deliver. Jonathan Breen reports.

Infibeam is on track to become India’s first IPO from the e-commerce sector, with its Rp4.5bn ($67.9m) deal closing books this week. But the listing that was supposed to be a trailblazer has come in for criticism, as bankers traded barbs over whether the issuer made the right call on pricing and timing. John Loh reports.

HealthCare Global Enterprises (HGC) has raised Rp6.5bn ($97.5m) after pricing its IPO in India at the top of the range, with foreign investors taking home the bulk of the shares.

State Bank of India launched its $500m fundraising into general syndication on Tuesday via eight mandated lead arrangers and bookrunners.

Deutsche Bank has appointed Jason Cox as co-head of equity capital markets for Asia Pacific, the lender's only external hire in a new management structure for the region.

HSBC has made a series of senior appointments in India, including promoting Hitendra Dave to head of global banking and markets for the country.

Syndication has closed for a $975m refinancing for India’s Reliance Industries, with four new lenders coming in.

India’s HealthCare Global Enterprises has raised Rp6.5bn ($97.5m) after pricing its IPO at the top end of guidance, with foreign investors snagging the largest chunk of the trade.

Infibeam is set to be the first e-commerce company to list in India with a deal that could raise Rp4.5bn ($67.9m), but investors have given it a tepid response since books opened on Monday.

Indian real estate company DLF is planning to sell a shopping mall as part of its goal to set up a real estate investment trust (Reit), according to a filing with India’s Bombay and National stock exchanges.

Indian cancer care company HealthCare Global Enterprises had seen a slow response to its Rp6.5bn ($97.5m) IPO heading towards the end of bookbuilding on Friday with only 84% of the deal subscribed.