India

The Indian government has put in place new initiatives to attract capital and curb the country’s expanding deficit, including easing fundraising through overseas bonds and loans, which market watchers say are small but important steps.

India’s Yes Bank has closed a $400m borrowing, attracting four participants during syndication.

India’s JSW Steel has launched a $140m dual-tranche loan into general syndication, with the funds to go towards its acquisition of US-based steel plant Acero Junction Holdings.

Larsen & Toubro has raked in Rp18.5bn ($256.5m) after selling a block of shares in subsidiary L&T Infotech, finding strong demand from both institutions and retail investors.

Larsen & Toubro is looking to raise at least Rp18bn ($254.2m) from the sale of stock in its subsidiary Larsen & Toubro Infotech.

Goldman hires from IMF — UBS adds to debt origination — Bank Alfalah, CLSA ink pact for Pakistan — Credit Suisse taps Japan CEO — PNB scoops up former HSBC banker

Goldman Sachs has hired a former International Monetary Fund and Reserve Bank of India economist to run its research in India.

India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction.

Shares in India-traded Hexaware Technologies plunged after an overnight block sale in the company last week that netted Rp11.2bn ($159.6m) for Baring Private Equity Asia.

The Indian government is looking to pare its stakes in Housing and Urban Development Corp (Hudco) and NBCC to raise some Rp24bn ($342m) at their current prices.

The Indian arm of oil major Shell broke the quiet in Asia’s overnight block market this week by paring its stake in Mahanagar Gas for Rp11.8bn ($167.9m).

Shell India subsidiary BG Asia Pacific Holdings is looking to raise at least Rp11.7bn ($169m) through a stake sale in Mahanagar Gas.