South Asia

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.

Pakistan is making a quick comeback to the loan market, seeking $200m, amid a mounting debt crisis in the country. But economists and bankers said numerous funding avenues are available for the sovereign to manage its $12bn of outstanding debt.

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.

AGS Transact Technologies has revived its plans for a Rp10bn ($143.3m) IPO in India, according to a draft prospectus filed on Monday.