South Asia

India’s equity capital market is likely to get a big injection of liquidity, after the government announced the planned sell-downs and listings of a number of state-owned entities in its annual budget.

Adani Transmission has priced a $310m US private placement, becoming the first Indian company to raise money in that market since 2007. Although some investors still feel scarred by an Indian incident a decade ago, many see this as the dawn of an Indian PP revival.

Indian telecommunications company ITI has launched its IPO, looking to raise up to Rp14bn ($196.6m) in fresh equity.

BSE, formerly the Bombay Stock Exchange, will use the Intercontinental Exchange’s ICE Brent Index as the final settlement price for its Brent futures contract.

Green bond volumes reached a record level in 2019 and market participants think the sector is poised for another blow-out year. Korea South-East Power Co (Kosep) and ReNew Power Private gave a further boost to Asia’s growing green bond market this week, selling $750m of notes between them. Morgan Davis reports.

Korea South-East Power Co (Kosep) and ReNew Power Private gave a further boost to the growing green bond market on Tuesday.

The Asian bond market has been red hot since the start of 2020. With nearly every day bringing a number of blowout deals, it would be easy to overlook the three borrowers that have fallen short of completing their proposed transactions. But the failed deals may be a sign of things to come.

India’s Lalitpur Power Generation Company has postponed its attempted debut dollar bond after opening bookbuilding on Thursday, according to a source close to the situation.

Future Retail’s inaugural dollar bond raised the curtain for India’s retail shopping sector, as the company leveraged on its new partnership with e-commerce giant Amazon to raise $500m. But while the industry appeals to investors, issuance pipeline from the country remains thin, writes Morgan Davis.

Power Finance Corp sold its third dollar transaction in six months, raising $750m from a slightly longer-dated deal.

Future Retail threw open the door for India's retail shopping sector on Tuesday with its $500m debut bond, getting a solid book of $3bn for the transaction.

Indian companies Birla Carbon and Tata Steel have mandated banks for loans and both borrowers have signed up large groups of lenders at the top level.