South Asia

Anmol Industries has hired three banks to lead its flotation in India this year, which could raise around Rp10bn ($156m).

India’s Housing Development Finance Corp has won approval from its committee of directors to raise up to Rp129.9bn ($2.05bn) in fresh capital.

India's Tata Steel has lined up a group of 21 lenders for an up to $2.16bn six year loan, which will be launched into primary syndication in a couple of weeks, said bankers close to the deal.

Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.

India’s Yes Bank is extending a fundraising spree that began last year, and is back in the overseas loan market for the third time since August 2017.

India’s IL&FS Transportation Networks sold a Rmb900m ($138.21m) offshore renminbi bond on Wednesday, making it the first high yield issuer to seal a deal in the market in more than 16 months.

Indian loan activity has got off to a steady start, with a large borrowing for companies under the Tata Group, including Tata Steel, due to be mandated shortly. Lacklustre credit demand from Indian firms may become a thing of the past as market participants are betting on a pick-up in momentum from the country this year. Shruti Chaturvedi reports.

India’s IL&FS Transportation Networks launched an offshore renminbi bond on Wednesday morning, following Westpac Banking Corp’s opening of the dim sum market earlier this week.

AirAsia head honcho Tony Fernandes hinted at a potential IPO for the budget airline group’s India arm through his Twitter account on Wednesday.

Pakistan’s securities regulator has overhauled its IPO rules to make the country’s bookbuilding process more market-friendly.

DCM bankers often market Panda bonds as Belt and Road bonds, even when they have little to do with China’s landmark infrastructure plan. But in recent weeks, issuers with genuine needs for funding Belt and Road projects have started to tap the market. The change could open up a new frontier for RMB internationalisation.

The Indian government has launched an up to Rp14.45bn ($227.7m) offer for sale of stock in mining company NMDC.