South Asia

Indian lender Axis Bank has promoted its international loan syndications head to lead the operation globally, according to sources.

India’s Power Finance Corp, which reached out to overseas lenders last month for a $100m-equivalent 10 year borrowing in euros, has failed to attract bids from banks, according to sources.

SBI Life Insurance Co is asking banks to pitch for a role in its India IPO, issuing a request for proposals on Monday.

India’s NTPC opened books for a new offshore rupee offering on Tuesday, the second Masala transaction to hit the market this year.

Kailash Soni is expected to join Goldman Sachs later this year as head of ECM for India, sources close to the matter said.

National Highways Authority of India is preparing investors for a new Masala transaction, the issuer’s first in the offshore rupee market.

The Indian government has hired five firms to run the IPO of state-owned insurer New India Assurance Co, according to a banker close to the situation.

As the perceived European political risk reduced following the results of the first round of French elections, Asian debt markets opened on Monday to a deal from India's HPCL-Mittal Energy (HMEL).

Max Financial Services made a quick return to ECM with its latest overnight bookbuild raising Rp8bn ($124m) – although slippage was more severe this time around.

India’s divestment body has hired banks to lead the IPO of state-owned reinsurer General Insurance Corp of India, which is expected in the fourth quarter of 2017, according to a banker on the mandate.

S Chand and Co is set to raise Rp7.3bn ($112.8m) from its listing in India, with books scheduled to open on Wednesday.

India this week teed up the first divestment of the 2017/18 financial year and it hit a hole-in-one, after investors bundled into the book as soon as it opened. With the government rushing out requests for proposals for more sell-downs, the success of its debut is a sign of things to come, said equity market bankers in the country. Jonathan Breen reports.