India

Birla Carbon, part of Indian conglomerate Aditya Birla Group, is targeting its relationship banks for the senior syndication of a $1.2bn borrowing.

IndoStar Capital Finance has scooped up Rp18.4bn ($273m) after pricing its IPO at the top of guidance, on the back of a strong turnout from a broad range of investors.

The Small Industries Development Bank of India (Sidbi) is looking to venture into the offshore rupee bond market, and is seeking lead managers and an international credit rating.

Investment bankers began pitching to work on the IPO of Indian logistics service provider Delhivery on Friday, according to a source familiar with the matter.

ReNew Power, a poster boy of India’s clean energy firms, is looking to raise as much as $1.4bn through an IPO as it revives public share sales in the sector.

Goldman Sachs-backed ReNew Power is seeking the greenlight for its IPO, having filed a draft red herring prospectus with the Securities and Exchange Board of India on Tuesday.

Carlyle raked in Rp10.2bn ($151.5m) from an overnight sale of some of its shares in Indian mortgage lender PNB Housing Finance on Tuesday.

IndInfravit Trust lifted the gloom in India’s infrastructure investment trust market this week after its Rp32.3bn ($484m) private placement, a first for the asset class, drew in Allianz Capital Partners and Canada Pension Plan Investment Board.

G R Infraprojects is eyeing an IPO in India that will raise Rp5bn ($75m) in primary proceeds as well as allow existing shareholders to cash out.

Indian conglomerate Larsen & Toubro kicked off the listing of its infrastructure investment trust (InvIt) this week, pushing a novel private placement structure. Market participants predict that with the sponsor’s strong credentials, a desire for safe assets and a bigger investor pool, the deal could be the boost InvIts have been waiting for. Jonathan Breen reports.

India’s Reliance Jio Infocomm has launched the biggest Samurai loan from an Asian company into general syndication, as it looks to leverage on Japanese onshore liquidity.

LCH, the majority-owned clearing house of the London Stock Exchange, on Tuesday began clearing non-deliverable interest rate swaps in Chinese yuan, Korean won and Indian rupees.