South Asia

State Bank of India has roped in eight firms to manage the up to $900m IPO of its insurance arm, according to bankers.

Piramal Enterprises’ board has approved an up to Rp50bn ($780m) equity raise, with the firm now looking to get the nod from shareholders.

Kotak Mahindra Bank closed a bumper equity raise on Friday that fetched Rp58bn ($902m), in what bankers hailed as another flagship Indian qualified institutional placement.

Indian state-owned Housing and Urban Development Corp has wrapped up a Rp12bn ($186.6m) IPO nearly 80x covered, following a deluge of investor demand on the final day of bookbuilding.

National Highways Authority of India grabbed a Rp30bn ($465.88m) five year Masala bond on Thursday, despite the offshore rupee market not getting the enthusiasm that issuers want.

An up to $1bn facility for the Sri Lankan sovereign has hit general syndication, about three months after the borrower mandated six banks for the deal.

It was a slam dunk for India’s first infrastructure investment trust, which raised Rp46.5bn ($727.4m) after IRB InvIT Fund priced its IPO comfortably at the top of expectations.

State Bank of India is looking for up to six firms to lead a qualified institutional placement or follow-on public offer, issuing a request for proposals on Tuesday.

HSBC levfin banker moves to BAML — Axis Bank promotes HK credit head — UBS banking moves — Apac corporate finance head at FAB — AmBank hires from RHB — Citic CLSA names global M&A head — Sim to runhelm CMS equities — Asifma head of equities exits

National Highways Authority of India served up its debut Masala deal on Thursday morning, offering investors a second offshore rupee option in under a month.

The head of credit for Axis Bank in Hong Kong has been promoted, with the scope of his role widening following the bump up.

Shareholders of India’s Kotak Mahindra Bank have given it the nod to raise equity, in a deal that could fetch Rp57.3bn ($887m) based on its market price.