India

The Indian government is looking to sell its entire majority stake in Bharat Petroleum Corp (BPCL) and has invited expressions of interest from strategic buyers.

Indian real estate developer Lodha Developers International offered investors a 14% yield to secure demand for its $200m bond, after being forced to widen pricing from initial guidance.

SBI Cards and Payment Services was riding high on Thursday after a rush of institutional investor demand pushed its billion-dollar IPO through a coronavirus-driven slump in local and global markets this week. Jonathan Breen reports.

India’s market regulator has given Equitas Small Finance Bank (ESF) the go-ahead for its IPO, which is expected to raise about Rp10bn ($136.3m).

SBI Cards and Payments Services has kicked off its up to Rp103.4bn ($1.4bn) IPO, with over one quarter of the deal subscribed by anchor investors.

Hindustan Petroleum Corp (HPCL) has returned to the offshore loan market, mandating three banks for a $300m borrowing.

SBI Cards and Payments Services, a State Bank of India subsidiary, set the final price range for its IPO, putting proceeds of up to Rp103.5bn ($1.44bn) in reach for when it launches the deal next week.

Adani Group, the Indian conglomerate founded by Gautam Adani, is considering a non-deal roadshow to Schuldschein investors, as Western private debt markets gain ground with companies in Asia.

India's market regulator has given Rossari Biotech the nod for an IPO that is expected to raise about Rp7bn ($98m).

SBI Cards and Payments Services has finalised the price range for its IPO, which is set to be worth up to Rp103.5bn ($1.44bn) when it is launched next week.

Investors flocked to Indian credits on Thursday, as UPL Corp and Muthoot Finance sealed new dollar bonds in a busy market.

Avenue Supermarts’ founder Radhakishan Damani and members of his family offloaded a portion of their shares in the company this week, raising more than Rp34.3bn ($478.1m). The deal came just days after the company issued a chunk of primary stock.