India

After a huge response from investors, Reliance Nippon Life Asset Management has wrapped up its IPO books more than 80 times subscribed.

The four mandated lead arrangers and bookrunners (MLABs) of a $250m Taiwan-targetted loan for Yes Bank brought in 13 banks during general syndication, said sources close to the trade.

The Securities and Exchange Board of India (Sebi) plans to carve out two windows for equity block trades that bankers say could significantly reduce incidences of slippage.

The Indian government has raised around Rp7.28bn ($111.9m) after offloading part of its holding in NLC India through a popular offer-for-sale (OFS).

HDFC Standard Life Insurance Co has announced a price range for its IPO, which could raise up to Rp86.9bn ($1.3bn) for its two biggest shareholders.

In an unprecedented move to prop up its ailing state-owned banks, India announced a Rp2.1tr ($32.5bn) recapitalisation this week that market participants have hailed as a game changer. But while it goes a long way in plugging capital shortfalls, it is not yet clear if the injection will result in a feast of equity issuance, writes John Loh.

Indian state-owned company Power Finance Corp (PFC), which sent a request for proposals for a $300m five year facility earlier this month, has hired three banks to supply the funds.

Reliance Nippon Life Asset Management was inundated with orders for its Rp15.4bn ($236.3m) IPO this week, with books covered 4.21 times on Wednesday, the first day of a three day bookbuild.

Investors were stumbling over each other on Wednesday to place orders for Reliance Nippon Life Asset Management’s potential Rp15.4bn ($236.3m) IPO, the first day of a three day bookbuild.

The government of India is selling down its stake in NLC India through a block that could raise around Rp7.2bn ($110.6m).

Reliance Nippon Life Asset Management has launched a three day bookbuild for its up to Rp15.4bn ($236.3m) IPO, after securing a third of the offer with a group of anchor investors.

HSBC has appointed a new chief executive for HSBC India, effective December 1.