South Asia
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Wire and cable manufacturer Polycab India is planning an IPO of new and existing stock, as backer International Finance Corp looks to cash in part of its stake. -
Indian Oil Corp (IOC) has sent out a request for proposals for an up to $400m borrowing.
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India’s Rural Electrification Corp pushed into the US market on Wednesday with its first 144A deal, to diversify its investor base. The power financing company decided to keep the $700m deal to one tranche and opted to leave some premium for investors.
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The Indian government has hit the market with a mammoth block sale of up to Rp148.6bn ($2bn) in Coal India, as the state looks to add some much-needed weight to its 2018/19 divestment target.
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India’s securities regulator has reworked the much-maligned Institutional Trading Platform (ITP), giving it a new name and more flexible rules in the hopes of attracting technology start-ups. But like its last iteration, the reformed listings platform is probably doomed to fail.
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The Securities and Exchange Board of India (Sebi) plans to tweak its platform for start-up listings after an industry group recommended changes to revitalise the long-stalled scheme.
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State Bank of India has mandated seven banks for a $500m offshore borrowing, returning to the market just two months after closing its last facility.
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Sri Lanka’s dollar bonds took a beating on Monday as the country’s political crisis worsened, putting further pressure on the sovereign’s near-term financing prospects as it faces $1.5bn of maturities in early 2019.
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JSW Steel’s board of directors has given the go ahead for an up to Rp50bn ($682.1m) rights issue, according to an exchange filing on Thursday.
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State Bank of India is planning to tap the equity and bond markets for Rp250bn ($3.4bn) in funds during the financial year ending March 31, 2019.
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Indian electricity utility firm Tata Power has launched a $245m refinancing loan into general syndication after mandating five banks last month.
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A $1.1bn loan to take India’s Vedanta Resources private was launched into general syndication at the beginning of the month, with Credit Suisse and Standard Chartered at the helm.
