India

ANZ has appointed a new head of markets for India, naming Mumbai-based Rohit Bhasin to the position.

India’s Bandhan Bank is set to start pre-marketing its $700m IPO this month, according to bankers arranging the deal.

Tata Steel is in discussions with lenders for a $2bn borrowing to fund a proposed expansion in India and take out some debt raised by its European unit, said sources.

India’s ReNew Power Ventures has hired three banks to helm its long-expected $700m IPO next year, said sources close to the matter.

Lodha Developers is looking to make its debut in the Indian equity market next year, having put together a syndicate of three banks to run its IPO.

The board of India’s Housing Development Finance Corp has given it the green light to sell new shares to the tune of Rp130bn ($2bn), part of which will flow through to its banking arm.

HDFC Asset Management Co will work with Bank of America Merrill Lynch, Citi and Kotak Mahindra Capital as the leads on its IPO, according to bankers close to the transaction.

Reliance Industries has allocated its $2.49bn multi-tranche fundraising among 31 banks, with plans to transfer in the new lenders before the end of the year, said bankers close to the trade.

A secondary equity sale in InterGlobe Aviation, the parent of Indian budget airline IndiGo, netted Rp12.7bn ($197.4m) for two shareholders on Thursday.

Indian ECM bankers are lining up for a bumper end to the year, with a string of state-owned financial institutions preparing qualified institutional placements (QIPs). Jonathan Breen reports.

Syndicate Bank has become the latest in a string of Indian state-owned lenders to opt for a qualified institutional placement, looking to raise up to Rp12bn ($186.2m) in primary capital.

Two shareholders in InterGlobe Aviation are looking to rake in Rp12.6bn ($196.2m) from a two day sell-down of their stock, opening the offer for sale on Wednesday morning.