India

India’s equity capital markets have had a strong start to the year, pumping out a steady flow of large IPOs and secondary share offerings on the back of a big uptick in foreign investment. The country’s ECM pipeline is offering banks relief amid a slowdown in Hong Kong. Jonathan Breen reports.

International bond volumes from India so far this year have almost doubled from the same period in 2019, showing the strength of the country’s issuers as they continue to emerge from a turbulent period. Debt bankers are optimistic that India is set for a strong 2020, writes Morgan Davis.

Delhi International Airport (Dial) returned to the bond market with a tap of its 2029 notes on Tuesday, taking $150m from investors.

Barbeque-Nation Hospitality is planning an IPO of up to Rp12bn ($167.8m). It has revived its listing plans two years after first announcing the transaction.

SBI Cards and Payment Services is preparing to launch its IPO of up to Rp95bn ($1.3bn) in the first week of March after getting the go ahead from the market regulator, according to a source close to the deal.

Avenue Supermarts' founder Radhakishan Damani and his family members are looking to raise Rp30.3bn ($424.7m) from a secondary share sale, following an issue of new stock by the company last week.

India's market regulator has told the NSE to divest its position in Computer Age Management Services (Cams), alleging the stock was acquired without its approval.

India Infoline Finance, a non-banking financial company (NBFC), made its debut in the international debt market on Wednesday, raising $400m from a bond that paid a negative new issue premium.

OCBC’s PB arm adds wealth planning head in HK – InvIt potential rises – China grants Value Partners advisory licence

Oil India has ended a four year hiatus from the loan market, returning for a $225m borrowing.

Indian telecommunications company Bharti Airtel returned to the debt market on Wednesday to tap its $750m 5.65% perpetual notes, after successful deals in the equity market this year gave its bonds a boost.

India’s infrastructure investment trusts, a fledgling asset class in the country, are expected to raise as much as Rp2tr ($28.1bn) in the next five years, according to a report by local research firm ICRA.