South Asia

India’s real estate and infrastructure investment trusts have been approved to issue bonds, in the latest move to ease the funding crunch for issuers.

ICICI Lombard General Insurance Co has priced its Rp57bn ($884m) IPO at the top of the range, after strong institutional investor support made books nearly three times subscribed.

Bharat Petroleum Corp’s offshore unit launched a $400m dual-tranche term loan into general syndication on Tuesday evening.

ICICI Lombard General Insurance Co closed books for its IPO on Tuesday, with the Rp57bn ($886.4m) trade more than 250% subscribed.

InterGlobe Aviation has raised Rp37.96bn ($591.5m) from a one-day placement, drawing in a troop of international and domestic hedge funds, as well as long-only investors.

The Islamic Republic of Pakistan is hiring banks to lead its international sukuk issuance, issuing a request for proposals over the weekend.

A pair of Goldman Sachs-owned funds bagged Rp7bn ($109m) after selling the last of their shares in India’s Max Financial Services through an overnight block trade on Thursday.

ICICI Lombard General Insurance Co kicked off a three day bookbuild for its potential Rp57bn ($888.8m) listing on Friday after placing Rp16.2bn of stock with a hefty group of anchor investors.

InterGlobe Aviation plans to raise Rp39.5bn ($616m) from a one-day bookbuild on Friday with institutional investors to help it meet India’s free float requirements.

SBI Life Insurance Co is preparing to treat India to the first billion-dollar IPO in seven years as it readies an eagerly awaited Rp84bn ($1.3bn) listing.

India’s Larsen & Toubro is set to trial a new bookbuilding format for its planned infrastructure investment trust (InvIT), a move designed for success as the asset class struggles to gain traction.

Indian non-banking financial company (NBFC) Bandhan Bank has lined up five bookrunners for its IPO, expected to raise at least $1bn, according to a banker on the transaction.