AXIS bank

State-owned Indian firm nets Rp25bn ($337.1m) from its first equity issue of the year

India's equity capital markets continue to bring out new deals, with a handful more now in the works.

India's IPO market is seeing a burst of supply, fuelled by listings of technology companies and benefitting from concerns around China's regulatory environment.

Cement producer Nuvoco Vistas Corp is aiming to raise Rp50.9bn ($686.2m) from its listing of primary and secondary shares in India.

Adani Ports and Special Economic Zone locked up a $750m dual-tranche bond on Monday. But the deal was not easy for the Indian borrower, as negative headlines at home and a volatile Asian market kept many investors away. Morgan Davis reports.

CarTrade Tech was approved by market regulator Securities and Exchange Board of India on Monday to proceed with its listing.

Star Health and Allied Insurance filed a draft IPO prospectus with India’s securities regulator this week, become a rare private sector insurer to head for a listing.

Adani Electricity Mumbai used a sustainability-linked bond to raise $300m, as the energy company transitions to more renewable power.

India’s Ministry of Steel has kicked off a two-day sale of its shares in National Mineral Development Corp, eyeing at least Rp19.3bn ($260m) in proceeds.

ONGC Videsh, the overseas subsidiary of Indian state-owned Oil and Natural Gas Corp, has launched a $500m loan into general syndication. It is targeting a broad group of lenders for the fundraising, owing to lending caps imposed on banks.

General Atlantic-owned Indian healthcare group Krishna Institute of Medical Sciences (Kims) has raised around Rp21.4bn ($288m) from a nearly four times subscribed IPO.

Indian company ONGC Videsh has mandated four banks for a $500m fundraising, which is likely to be syndicated next month.