South Asia

Sri Lanka has chosen a consortium of six lenders to arrange an up to $1bn borrowing, after having invited pitches from banks in January.

India’s divestment department has issued three requests for proposals to banks as it looks to list its key railway ministry subsidiaries.

Bharat Road Network filed a draft prospectus for its listing last Friday, offering 29.3m primary shares via leads Inga Capital, Investec and Srei Capital Markets.

India’s Rural Electrification Corp has opened a $230m five year loan to retail participants, about a month after the lead banks pre-funded the money.

India’s market regulator has given the go ahead to IRB InvIT Fund’s IPO, making it the first infrastructure investment trust in the country to win approval to list. But IndiGrid and Reliance Infrastructure are hot on its heels.

India has released a series of targets to make sure its state-owned firms are listed within a specific time frame, giving them up to 5.5 months to market and launch their IPOs.

Allocations are out for a dual currency financing to back Indian company Intas Pharmaceuticals’ acquisition of a portfolio of assets in the UK and Ireland.

The Reserve Bank of India has further opened up investment into Masala bonds by allowing new types of investors to access offshore rupee notes.

Reliance Infrastructure has begun gauging investor appetite for a potential Rp30bn ($448.1m) IPO of its infrastructure investment trust, according to a banker familiar with the matter.

The leads arranging a syndicated loan of up to $150m for Indiabulls Housing Finance have extended the deadline for commitments.

Indian telecom hardware company Tejas Networks is just a few steps away from its IPO, having filed a draft prospectus with the market regulator more than eight years after first proposing the idea of going public.

Indian school textbook publisher S Chand and Co has begun pre-marketing its IPO, which comprises primary and secondary equity.