State Bank of India SBI

Reliance Infrastructure’s board of directors has given the go ahead for an up to Rp20bn ($305.0m) qualified institutional placement, according to a stock exchange filing.

State Bank of India’s central board has agreed a plan to raise up to Rp150bn ($2.3bn) in the equity capital market, according to a stock exchange filing on Wednesday.

State Bank of India, which allocated its most recent fundraising only a few weeks ago, is back in the market already for a $500m three year facility. A group of 13 lenders is processing approvals to lead the new deal.

State Bank of India will be returning to ECM after a three year hiatus if it obtains board approval next week for a fundraising exercise.

India’s Avenue Supermarts has opened the gates to its potential Rp18.7bn ($280.6m) IPO after securing nearly a third of the offering with anchor investors.

State Bank of India has increased its latest fundraising in the syndicated loan market to $750m, fully exercising a $150m greenshoe. Allocations to the foreign branches of Indian banks accounted for 40% of the final facility.

Hindalco Industries’ Rp33.4bn ($500m) overnight fundraising was an unqualified success, with some $1.5bn of orders flooding in from global accounts, according to bankers on the trade.

Hindalco Industries’ qualified institutional placement, which launched on Thursday night in India to raise up to Rp33.4bn ($500m), is set to price with no discount to the last close, bankers on the deal said.

Novelis’s $1.8bn Asian refinancing of its US term loan B has seen four new lenders come in during syndication, as the leads hold out for several more large commitments.

Sri Lanka has picked a consortium of six banks for a $1bn borrowing, just months after wrapping up its last loan. A pick up in sentiment around the country and its reliable track record means the latest deal will do well in syndication, with heightened interest from India providing additional momentum. Shruti Chaturvedi reports.

The Indian government kicked off a two-day bookbuild on Wednesday to sell 5% of its stake in Bharat Electronics worth Rp16.8bn ($250.9m).

Sri Lanka has chosen a consortium of six lenders to arrange an up to $1bn borrowing, after having invited pitches from banks in January.