India

IndInfravit Trust will launch a Rp32.3bn ($484.3m) IPO on Thursday, the first time an Indian infrastructure investment trust (InvIT) will sell shares solely through a private placement.

India's IndoStar Capital Finance has announced an indicative price range for its potential Rp18.4bn ($276m) IPO, according to a banker on the deal.

Indian real estate company Lodha Developers is preparing to raise up to $562m from the primary portion of its planned IPO, according to a draft red herring prospectus filed on Thursday.

Fiat India Automobiles, the India-based wholly-owned subsidiary of Italy’s FCA Group, has cut the price of a $250m old project loan by converting it into a corporate finance deal.

State-owned Punjab National Bank has appointed three firms to lead the IPO of its life insurance arm in India later this year, according to sources close to the deal.

Reliance Jio Infocomm, the mobile network operator controlled by India’s Reliance Industries, has raised ¥53.5bn ($498m), the largest Samurai loan for an Asian corporation.

India’s Dewan Housing Finance Corp (DHFL) finally sold its first offshore rupee bond this week in a deal which has been two years in the making.

A group of 23 banks opened syndication for Tata Steel’s $1.86bn dual-currency facility on Monday, but only after the deal went through numerous changes on its way to the market.

The Reserve Bank of India (RBI) has raised the cap on foreign investment in rupee debt, giving a boost to a market whose growth was hindered last summer due to restrictions.

Indian power financier National Thermal Power Corp (NTPC) has closed its $350m-equivalent yen-denominated borrowing, attracting eight Japanese participants.

Crystal Crop Protection has filed for a Rp10bn ($150m) flotation in India that will raise both primary and secondary equity.

Varroc Engineering and Atria Convergence Technologies have submitted their respective draft prospectuses to list in India within the next few months.