South Asia

Société Générale has appointed a new head of global markets for India, giving him responsibility for developing the bank’s markets activities, including derivatives, foreign exchange and rupee products business.

India’s Jain Irrigation Systems plans to raise $75m via an offshore convertible bond to refinance an outstanding equity-linked deal.

The Indian government has raised Rp16.7bn ($250.5m) by selling a portion of its stake in Bharat Electronics through a popular offer for sale.

Credit Suisse has given two senior bankers responsibility over its private banking operations in India, the firm said on Friday.

India's Barbeque Nation Hospitality has picked one international and one domestic bank to lead its planned IPO, with the deal slated for this year.

Sri Lanka has picked a consortium of six banks for a $1bn borrowing, just months after wrapping up its last loan. A pick up in sentiment around the country and its reliable track record means the latest deal will do well in syndication, with heightened interest from India providing additional momentum. Shruti Chaturvedi reports.

ONGC Videsh (OVL), the overseas investment arm of Indian state-owned oil company ONGC, is tapping the loan market for longer dated debt to replace a bridge raised by one of its subsidiaries.

China Reading, the e-book publisher backed by Tencent Holdings, has picked Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley to lead its Hong Kong IPO, according to a source close to the matter.

HSBC’s equity capital markets head for India has left the bank, GlobalCapital Asia understands.

The Indian government kicked off a two-day bookbuild on Wednesday to sell 5% of its stake in Bharat Electronics worth Rp16.8bn ($250.9m).

A unit of Goldman Sachs raised Rp8.4bn ($125.2m) on Tuesday after selling down some of its stake in India’s Max Financial Services, taking advantage of a run-up in the stock.

The successful placement of an outbound acquisition financing for Indian company Intas Pharmaceuticals has put the spotlight on rules barring Indian banks from supporting local M&A. Intas’s loan has demonstrated that the country’s lenders are well positioned to structure and distribute complex deals with cross-border elements. It’s time for the regulator to rethink rules on domestic transactions.