South Asia

Bajaj Finance has set its sights on a Rp45bn ($703m) capital increase as in-demand Indian FIG issuers line up to tap equity investors.

Indian company Intas Pharmaceuticals is lining up banks to help it fund an acquisition in Europe and the US, turning back to lenders who helped the company pull off a successful takeover earlier this year. But this time around, it has more bargaining power. Shruti Chaturvedi reports.

Barbeque-Nation Hospitality has submitted a listing application to the regulator in India for a $100m-plus IPO through four bookrunners.

Indian Railway Finance Corp (IRFC) is ready to sell its debut offshore rupee bond as soon as it is given the regulatory go-ahead, a source at the issuer has told GlobalCapital Asia.

Bajaj Finance has mandated Goldman Sachs, JM Financial and Kotak Mahindra Capital for a Rp45bn ($703m) primary capital raise, a banker on the deal said.

India’s Quess Corp is eyeing up to Rp11.8bn ($184.4m) from an equity raise targeting institutional investors, taking advantage of a share price that has almost tripled since its IPO last year.

India's Vedanta Resources is talking to banks about a $300m borrowing for its mining operations in South Africa, setting the wheels in motion for its third international loan of the year.

State-owned insurer New India Assurance Co (NIA) has submitted a draft prospectus for its IPO, which could be worth up to Rp75bn ($1.2bn), according to a banker working on the deal.

The European Securities and Markets Authority (ESMA) on Thursday announced a new cooperation agreement with the Securities and Exchange Board of India (SEBI), that will secure it information on the ongoing compliance of Indian central counterparties (CCPs) under EU regulation.

Indian borrowers are increasingly raising offshore loans with tenors of five to seven years, in a bid to smooth out their maturity profiles and avoid a massive debt overhang. The shift comes at the right time, as international lenders slowly warm up to longer-dated deals, writes Shruti Chaturvedi.

Export-Import Bank of India priced a rare dollar Formosa bond from the country this week, bagging $400m. Cash-swamped dollar investors in Taiwan are desperate for diversification amid falling loan volumes, so the stage is set for borrowers to push for tighter pricing. Addison Gong reports.

India saw a burst of IPO filings this week, with state-owned insurers New India Assurance Co (NIA) and General Insurance Corp of India (GIC Re) lining up potential billion-dollar listings.