India

India's placements market is heating up, with new issuers set to raise fresh equity.

InterGlobe Aviation is looking to raise up to Rp40bn ($535.4m) from a placement of new stock.

ONGC Videsh (OVL), the overseas arm of India’s state-owned Oil and Natural Gas Corp, has sent out a request for proposals for an up to $750m loan, just a few months after raising $1bn.

Indian agricultural company Jain Irrigation Systems, which has been navigating a liquidity crisis for more than a year, has put in place two restructuring plans for its onshore and offshore debt.

ICICI Bank has closed its up to Rp150bn ($2bn) qualified institutional placement, according to a source close to the deal.

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Investors threw their weight behind Housing Development Finance Corp's Rp140bn ($1.87bn) fundraising this week.

Indian private sector lender Axis Bank is set to price a qualified institutional placement worth up to Rp100bn ($1.34bn).

India’s HDFC Bank has picked a successor to chief executive Aditya Puri, who will retire at the end of October.

Shriram Transport Finance Co has scooped up Rp14.9bn ($199m) from a rights issue in India.

India’s Adani Green Energy is in talks with banks for project finance of more than $1bn, which some bankers think is ambitious.

Two Indian companies have struggled to find demand in syndication for deals that were priced before Covid-19 shut down the country. But bankers are optimistic about the fate of India’s offshore loans market — as long as borrowers accept a rise in funding costs. Pan Yue reports.