South Asia

HDFC Standard Life Insurance Co (HDFC Life) has mandated four houses to run its IPO, which will be India’s first listing by an insurance company.

India’s Ujjivan Financial Services has bagged Rp8.8bn ($132.3m) after pricing its listing at the top of its marketing range, in line with the level where investors placed the bulk of their orders.

India needs a green bank to finance the expanding clean energy industry, according to a joint report from non-profit organisations the Natural Resources Defense Council and the Council on Energy, Environment and Water.

A $425m loan for India’s Chambal Fertilisers and Chemicals is in limited syndication, with invitations sent to just two or three lenders.

Parag Milk Foods has thrown open books for its Rp7.7bn ($115.7m) IPO in India, after placing a huge chunk of the trade in the hands of 17 anchor investors.

Indian companies are showing interest in issuing offshore rupee-denominated, or Masala, bonds but a leading financier warns that the market will not heat up until the central bank allows private banks to fund deals.

Vodafone has mandated six banks for the IPO of its Indian arm, which could raise up to $2.5bn, according to sources close to the situation.

Last month in New York, 175 countries signed the historic Paris agreement on climate change, with commitments to reduce greenhouse gas emissions. Asia, as the world’s biggest emitter, will be a key player in contributing to turn the accord’s goals into reality.

Indian mortgage lender HDFC is in the final stages of signing up lenders for a $375m borrowing, according to two sources.

India’s Ujjivan Financial Services is planning to price its Rp8.8bn ($132.7m) float at the top of the range after investors across the board placed their orders at that level, according to a source close to the deal.

Indian state-owned hydropower producer NHPC has wrapped up its Rp27bn ($406.4m) offer for sale, which saw a quick flood of demand from institutional investors but a weak response from retail buyers.

Investors have covered 20% of Ujjivan Financial Services’ Rp8.8bn ($132.3m) Indian IPO by the second day of bookbuilding.