South Asia

Former Barclays banker Hardik Dalal started in a newly created executive director position at MUFG Securities Asia on Monday.

Future Supply Chain Solutions, one of India’s largest third-party logistics firms, is preparing to go public in a deal that is expected to raise around $100m, according to a banker working on the transaction.

Indian lender Yes Bank has mandated four Taiwanese banks for its latest syndicated loan, a $200m five year. The firm is raising funds through its branch in Gujarat International Finance Tec-City (Gift City), India’s first international financial services centre.

HDFC Standard Life Insurance Co is planning an offer-for-sale of secondary shares. The deal could be worth Rp100bn ($1.56bn) and is likely to hit the market in 2017, according to a banker working on it.

Microfinance institution Bandhan Bank has begun preparations for its IPO, according to a source familiar with matter.

The Monetary Board of the Central Bank of Sri Lanka has suspended the primary dealer status of Pan Asia Banking Corp (PABC) for six months.

Reliance Nippon Life Asset Management has filed for a potential Rp20bn ($311.8m) IPO in India, offering both new and existing shares.

HDFC Standard Life Insurance Co submitted a listing application to the Indian regulator on Friday, with as many as 10 banks managing the float, which could be worth Rp100bn ($1.5bn).

Srei Infrastructure Finance plans to list its equipment financing arm in India to raise about Rp20bn ($312m), amid the country’s push for infrastructure investments.

Infrastructure Leasing & Financial Services (IL&FS), which successfully tapped the fledgling Masala loan market for a Rp3.4bn ($53m) deal last year, has returned to the offshore market. But this time around, it opted for a dollar deal.

Indian lender IndusInd Bank has closed syndication for a $300m three year loan, with allocations likely to be out early next week.

Cairn India Holdings, which signed up new lenders for a $651m borrowing in late July, has received commitments from two more banks.