South Asia

India Grid Trust has priced its Rp22.5bn ($351m) IPO at the high end of the range despite being stung by IRB InvIT Fund’s poor debut.

India’s divestment body has pushed back the request for proposals deadline for merchant banker and selling broker positions on the sell-down in mining and power firm NLC India.

Indian hospital operator Shalby filed a draft red herring prospectus last Friday for a possible Rp7bn ($108m) IPO via three bookrunners.

Kia Motors has approached lenders for a financing to support the construction of a production plant in India that was announced late last month.

United Bank of India’s board has approved a plan to raise equity worth up to Rp10bn ($154m), the lender said in a filing on Thursday.

Malaysia’s IHH Healthcare completed its exit from Apollo Hospitals Enterprise on Thursday, but not without some behind the scenes drama as rival banks tried to muscle in on the trade.

The Republic of the Maldives is looking to raise $200m from its debut international bond this year. Market watchers reckon the planned deal falls in line with China’s Belt and Road initiative, mirroring Sri Lanka’s choice earlier this month to hire Chinese banks for its dollar trade. Morgan Davis reports.

Companies in India are once again turning to qualified institutional placements (QIPs) to meet their fundraising needs, as issuers take advantage of a liquidity driven rally.

The Asian Development Bank (ADB) printed its inaugural Rp3bn ($47m) green Masala bond on Wednesday, aimed at supporting the financing of climate change mitigation and adaptation projects in India, the agency said.

India’s divestment body has revealed the pitch schedules for a series of government sell-downs, each of which is set to include a mix of foreign and domestic firms vying for lead roles.

India Grid Trust has launched the country’s second infrastructure investment trust (InvIT) IPO that is worth Rp22.5bn ($351m), with anchor investors taking up 45% of the trade.

The Pakistan Stock Exchange is planning to sell 20% of its share capital to the public and is seeking comments on its draft offer document, according to a filing.