South Asia

National Thermal Power Corp (NTPC) has become the second Indian company to seek long-term funding under the latest Reserve Bank of India guidelines — about five months after Power Finance Corp's similar, albeit unsuccessful, attempt. Given that precedent, NTPC will do well to keep its hopes in check.

India’s Cochin Shipyard, one of the few proxies to the defense sector, priced its Rp14.7bn ($230.6m) IPO at the top of expectations after demand trumped supply by an impressive 76.2 times.

Reliance Nippon Life Asset Management has added three bookrunners to the line-up of banks that will manage its IPO in India this year, boosting the syndicate to six.

Export-Import Bank of India took advantage of reverse enquiry from Taiwanese investors to sell its debut dollar Formosa bond, marking only the second Formosa from the south Asian country and the first from an Indian bank.

Indian telecommunications group Bharti Airtel has raised Rp25.7bn ($403.2m) after offloading a stake in its tower unit Bharti Infratel, selling the shares near the bottom of guidance.

State-owned reinsurance company General Insurance Corp of India (GIC Re) has submitted a draft IPO prospectus for a deal that could raise around Rp85bn ($1.3bn), said a banker on the mandate.

Indian company National Thermal Power Corp (NTPC) has approached banks with a request for proposals for a $150m facility with an average life of 10 years.

The logistics arm of Indian multinational automobile conglomerate Mahindra & Mahindra has filed for approval for an IPO that could raise up to $150m, according to a source close to the deal.

India’s market regulator has asked listed companies to disclose any default on bank loans within one working day from the date of the missed payment, in a move to tackle the country’s bad loan problems.

Export-Import Bank of India is poised to make its debut in the dollar Formosa market, becoming only the second borrower from the south Asian country to sell a bond in Taiwan.

India's Vedanta Resources extended its maturity profile further this week with its second tender plus new money deal of the year. The issuer opted for size over price, leaving a little something on the table for investors.

Securities and Intelligence Services India has raised Rp7.8bn ($122.5m) after sealing its IPO at the top of guidance, according to a banker on the deal.