India

JSW Steel’s board of directors has given the go ahead for an up to Rp50bn ($682.1m) rights issue, according to an exchange filing on Thursday.

State Bank of India is planning to tap the equity and bond markets for Rp250bn ($3.4bn) in funds during the financial year ending March 31, 2019.

Indian electricity utility firm Tata Power has launched a $245m refinancing loan into general syndication after mandating five banks last month.

A $1.1bn loan to take India’s Vedanta Resources private was launched into general syndication at the beginning of the month, with Credit Suisse and Standard Chartered at the helm.

The impasse at Bandhan Bank looks set to be resolved after the Indian markets regulator waived its lock-up requirement for newly-listed firms, allowing the lender to comply with central bank demands for it to sell shares.

India’s Emami Cement is planning an IPO that could raise up to Rp10bn ($135.3m), having filed a draft prospectus with the country’s securities regulator.

A chill wind is blowing through the Indian equity markets that is likely to spill over into next year, as the combination of national elections and a liquidity crunch puts investors off primary offerings. John Loh writes.

ASK Investment Managers and microfinance lender Muthoot Microfin have won listing approval from India’s market regulator.

Azure Power Global, the Indian solar energy producer, raised $185m from a follow-on offering after its Canadian shareholder stepped in to buy more shares than expected.

The Asian loan market suffered a drop in volume in the third quarter, with bankers blaming a lack of event-driven deals, a deprecating renminbi and trade tensions for the fall. But all hope is not lost just yet, with a turnaround coming, writes Pan Yue.

India’s banking sector has been shaken by a trio of unfortunate events, but they are unlikely to inflict any lasting damage on capital markets, say bankers.

India’s UPL Corp has launched a $3bn five year term loan into general syndication to support its acquisition of Arysta LifeScience.