India

Bain Capital is making its exit from India’s Hero MotoCorp just about a year after it last pared down its holdings. The latest block, worth roughly Rp7.7bn ($116m), is still unfinished however as investors can only be crossed on Thursday when markets re-open after a public holiday.

The Indian government has told banks vying for the mandate for a $3bn sell-down in Coal India to make their final presentations on Thursday, according to the Department of Disinvestment.

Asia's green financing market received a boost this week with IDBI Bank bringing India’s second dollar-denominated bond. Market participants expect the deal to be followed by more such trades from the country.

The Securities and Exchange Board of India (Sebi), the country’s financial markets watchdog, is understood to be vexed about the lack of retail participation in two recent high-profile IPOs. But this is much ado about nothing, and it would be a mistake for the regulator to start meddling again to protect the interests of small investors.

The Securities and Exchange Board of India (Sebi) and the Bangladesh Securities and Exchange Commission (BSEC) have agreed to extend bilateral co-operation and technical assistance to each other under a new pact.

India’s Reliance Industries signed its $1.47bn dual-currency loan at the end of last week in Dubai, with the deal sealed following commitments from a group of around 30 lenders.

Housing Development Finance Corp (HDFC) has picked five banks to work on India’s first offshore rupee-denominated, or Masala bond, with the deal expected to launch as early as next week.

India's IDBI Bank is looking to issue the second dollar-denominated green bond from the country, taking bids for a five year offering on November 23.

Birla Carbon, part of India’s Aditya Birla Group, has opened its $925m refinancing into general syndication via five mandated lead arrangers and bookrunners.

Fiat’s Indian arm has approached lenders for a $250m loan to fund projects in the country. The deal is one of the few offshore fresh money borrowings from India this year.

India’s Cabinet Committee on Economic Affairs (CCEA) has given the go-ahead for the divestment of a 10% stake in Coal India, in a deal which would help the government rake in as much as $3bn.

Videocon Hydrocarbon, which has activities in upstream oil and gas, is tapping the loan market for a $75m three year refinancing. An aggressive margin cut compared with the loan the company is refinancing has caught the eye of bankers, especially when its sector and the financial health of its parent is taken into account. Shruti Chaturvedi reports.