India

Tata AutoComp Systems, an Indian company that provides automotive components, has returned to the loan market for a dual-currency deal to refinance its acquisition borrowing from 2017.

Dollar bonds from Yes Bank, one of India’s largest private sector banks, have taken a big hit recently following Moody’s downgrade of the credit.

Rare international bond issuer Export-Import Bank of India turned to Japan this week for a yen-denominated deal. The ¥32bn ($301.2m) trade was its first standalone Samurai bond since 2006.

Credit Suisse has merged its loan and bond syndicate teams into one unit, and named the new heads of its Asia Pacific financing group (AFG).

The Indian government has done an about-turn on plans to introduce higher taxes on foreign portfolio investors as it finds ways to boost sentiment in the market. Experts reckon the finance ministry “misjudged” the state of things in India, and scrapping the tax will give a much-needed impetus to the country’s equity capital markets. Rashmi Kumar reports.

The first IPO on the Bombay Stock Exchange’s new startup board is fully covered. Indian software consulting company Alphalogic Techsys has raised Rp61.8m ($862,000) from the listing.

Credit Suisse has added two new bankers to its investment banking and capital markets team (IBCM) in India.

Indian company Alphalogic Techsys kicked off bookbuilding for its IPO on Monday and is on track to become the first listing on BSE’s new startup board.

The Indian government is preparing to make its final pick of bookrunners for the divestment of its stake in railway construction firm Ircon International.

A $170m loan supporting Blackstone’s acquisition of Essel Propack (EPL) has been launched into general syndication, attracting two lenders already.

SBI Cards and Payment Services, the credit card subsidiary of State Bank of India, has invited investment banks and lawyers to submit proposals to work on its IPO.

Ujjivan Small Finance Bank is readying an IPO of up to Rp12bn ($167.9m), having filed a preliminary "red herring" prospectus with India’s securities regulator.