South Asia

India’s RBL Bank priced its Rp12.1bn ($180.4m) IPO at the top end of guidance after a surge of demand pushed the deal to close nearly 70 times subscribed, said sources familiar with it.

The Indian government has rejigged the conflict of interest clause in an upcoming request for proposals for sell-downs of companies in the Special Undertaking of Unit Trust of India, according to a source with knowledge of the situation.

Indian pharmaceutical firm Laurus Labs is planning to go public this year with a Rp10bn ($149.0m) IPO, according to sources familiar with the deal.

India’s National Stock Exchange has appointed four banks, Citi, JM Financial, Kotak Mahindra Capital and Morgan Stanley, as joint global co-ordinators for its domestic IPO.

India’s market regulator met with a group of local and international investment banks last week in a bid to determine why the number of qualified institutional placements has dropped this year, according to sources.

Oil India is understood to have zeroed in on three banks to arrange new debt, following a request for proposals for a $650m loan with a $200m greenshoe option.

India’s RBL Bank opened books on Friday for an up to Rp12.1bn ($180.8m) IPO — the first listing from a bank in the country in more than five years.

The Indian government has picked four banks to run its planned stake sale in Housing and Urban Development Corp, which could raise up to $250m, according to sources close to the deal.

BOC Aviation has ended an eight month break from the loan market, sending out a request for proposals for a $1.5bn revolver.

A $405m loan for Blackstone’s acquisition of Indian fintech firm Mphasis has entered general syndication, a couple of months after the borrower expanded the lending group in the senior phase.

A group of Indian and international banks have signed up to manage the government’s sell-down of NBCC India, which is set to be worth around Rp22bn ($328.5m), a source familiar with the matter said this week.

State-owned Indian Railway Finance Corp (IRFC) is steaming ahead with plans to issue its maiden offshore rupee-denominated bond in late September.