State Bank of India SBI

India appears poised to continue its strong IPO streak as Dilip Buildcon gets ready to launch a Rp6.53bn ($97.5m) trade next week.

The scorching pace of Indian IPOs looks set to continue as Dilip Buildcon prepares to launch a Rp6.53bn ($97.5m) listing next week, with bankers expecting a solid response from investors.

Indian mortgage lender HDFC has allocated its $375m loan among 17 banks, introducing a smaller ticket level after launching general syndication to accommodate some lenders’ requests.

The Indian government is setting aside Rp229.15bn ($3.42bn) in additional funds for the 2016-2017 fiscal year to recapitalise its state-owned banks, according to a Ministry of Finance announcement.

ICICI Prudential Life Insurance Co has kicked off investor education for its September IPO that could raise around $400m, according to a source familiar with matter.

Indian conglomerate Larsen & Toubro is preparing a potential Rp9bn ($134.1m) IPO for its subsidiary L&T Technology Services, just days after pricing the float of one of its other tech units.

Indian mortgage lender HDFC has received about $100m worth of commitments during general syndication of its $375m five year loan.

State Bank of India and JSW Steel have set sights on the offshore bond market, announcing their respective fundraising plans on the stock exchange.

Cochin Shipyard has dished out the mandate for its Rp10bn ($149m) IPO in India to three domestic firms, according to sources.

State Bank of India has allocated its latest $500m borrowing, finding demand from eight new lenders during syndication.

Two domestic banks have thrown their hats in the ring to manage the Indian government’s planned sell downs in MMTC and State Trading Corp, which could raise a combined Rp7.7bn ($115.1m).

L&T Technology Services has named Bank of America Merrill Lynch, JM Financial, Kotak Mahindra Capital and SBI Capital Markets as the lead banks on its planned IPO in India.