India

Indian food delivery platform Zomato has wrapped up its IPO 38.25 times subscribed. A stream of orders poured in from all corners of the market, with foreign institutions driving the deal.

Adani Electricity Mumbai used a sustainability-linked bond to raise $300m, as the energy company transitions to more renewable power.

Bank of America has poached Subhrajit Roy from a local firm in India to take over its global capital markets business for the country.

India’s first listing of a unicorn has started, as Zomato, a food delivery start-up, made its second day of bookbuilding on Thursday for a Rp98.9bn ($1.32bn) IPO. Droves of investors have already oversubscribed the deal, paving the way for the pipeline of technology listings to come, writes Jonathan Breen.

China’s move to tighten its grip on overseas IPOs of technology companies could be a boon to a handful of other markets in Asia.

Indian food delivery app Zomato has launched its hotly-anticipated IPO of up to Rp98.9bn ($1.32bn), anchored by a strong book of global heavyweight investors.

Indian financial technology company One MobiKwik Systems is eyeing Rp19bn ($255.1m) from an IPO, having filed initial documents with the regulator.

Private equity firm Blackstone is raising $1.1bn to support its purchase of a stake in Indian IT company Mphasis. The deal is set to be the largest leveraged buyout loan in the country — and comes with a group of 13 bookrunners at the top. Pan Yue reports.

Indian unicorn Zomato, a food delivery service, has set the final terms for its up to Rp98.9bn ($1.32bn) IPO.

Indian state-owned companies have returned in force to the loan market, raising funds for their planned capital expenditure as Covid-19 cases slow in the country. But the aggressive pricing offered by local banks means foreign lenders may end up being squeezed out. Pan Yue reports.

A recent lull in dollar bond supply from Indian corporations meant investors rushed to buy REC’s $400m deal on Tuesday, with the electricity company leveraging the demand to price inside of fair value.

India’s Ministry of Steel has kicked off a two-day sale of its shares in National Mineral Development Corp, eyeing at least Rp19.3bn ($260m) in proceeds.