AXIS bank

India’s most popular matchmaking website Matrimony.com has refiled for an IPO with a new syndicate team and a smaller fundraising target.

Bookbuilding for IRB InvIT Fund’s Rp46.5bn ($727.4m) IPO is having a slow start despite the hype surrounding India’s first infrastructure investment trust.

Indian power company NTPC sold its second Masala bond on Tuesday, hitting the market a day after the National Highways Authority of India (NHAI) kicked off a roadshow for its debut. With more state-owned companies expected to jump on the Masala bandwagon, the government’s efforts at boosting the market appear to be paying off, writes Morgan Davis.

India’s NTPC sealed a Rp20bn ($311m) five year Masala bond on Tuesday, as the country continues its struggle to develop the offshore rupee market.

S Chand and Co has started bookbuilding for its Rp7.3bn ($112.8m) float in India after anchor investors took up 30% of the deal at the top of the marketing range.

The top lending group for a dual-tranche borrowing by Vedanta Group has shrunk after one bank dropped out of the syndicate to tie up its portion of the financing bilaterally.

Indian lender Axis Bank has promoted its international loan syndications head to lead the operation globally, according to sources.

SBI Life Insurance Co is asking banks to pitch for a role in its India IPO, issuing a request for proposals on Monday.

India’s NTPC opened books for a new offshore rupee offering on Tuesday, the second Masala transaction to hit the market this year.

National Highways Authority of India is preparing investors for a new Masala transaction, the issuer’s first in the offshore rupee market.

S Chand and Co is set to raise Rp7.3bn ($112.8m) from its listing in India, with books scheduled to open on Wednesday.

Invitations are out for a $500m three year borrowing for State Bank of India, which has lined up 13 lenders to lead the deal with the money funded in March.