South Asia

Bank of Baroda returned to the market on Thursday to sell its first dollar deal in nearly five years. The bank, acting through its London Branch, raised $800m in a sale that came just days before its expected merger with Vijaya Bank and Dena Bank.

Indian real estate major DLF bagged Rp31.7bn ($458.7m) this week after wrapping up its qualified institutional placement (QIP), with investors winning a near 5% discount to the floor price.

India's capital markets started 2019 with much more vigour than they ended 2018, but a looming election is set to apply the brakes. Will the contest derail issuance for much of the year or be little more than a temporary blip? Bankers tell Morgan Davis they are optimistic

Pakistan walks a fine line between emerging market and frontier. It is clinging on to its hard won status, reports Morgan Davis

India’s Metropolis Healthcare has set the terms for its Rp12bn ($174.5m) IPO and is preparing to launch book building next week, according to a term sheet seen by GlobalCapital Asia.

Indian bonds issuers are racing to the offshore market for cash to beat the country’s financial year-end and the uncertainty of a general election straight afterwards. Morgan Davis and Addison Gong report.

Kerala Infrastructure Investment Fund Board made its debut in the offshore rupee market on Tuesday, raising Rp21.5bn ($311.7m).

Energy generator NTPC became the latest of a recent slew of Indian issuers to fund in the dollar bond market, with more deals underway.

Indian Railway Finance Corp (IRFC) pushed into the dollar market on Monday to close a bond trade ahead of the end of the financial year. The issuer managed to grab $500m from the five year sale, despite a weaker market.

British life insurer and asset manager Prudential Corp Holdings is offloading a chunk of shares in its Indian joint venture ICICI Prudential Life Insurance Co and is looking to bag at least Rp11.2bn ($162.6m).

India’s Canara Bank and Bank Rakyat Indonesia this week gave investors a chance to diversify away from Greater China supply, pricing their respective five year dollar bonds.

In this round-up, Shanghai tech board has started accepting IPO applications, new issuance of local government bonds hits record, fiscal revenue growth slowed thanks to tax cuts