ICICI

India’s ReNew Power Ventures has hired three banks to helm its long-expected $700m IPO next year, said sources close to the matter.

HDFC Asset Management Co will work with Bank of America Merrill Lynch, Citi and Kotak Mahindra Capital as the leads on its IPO, according to bankers close to the transaction.

India’s ICICI Bank sealed a $500m 2027 bond with ease on Thursday, pricing the trade at a tight coupon, leveraging on the positive sentiment around the country since the sovereign upgrade.

Union Bank of India has become the latest financial institution to use the qualified institutional placement route to raise capital, as the country’s banks head to the public market to plug their capital shortfalls.

China Citic Bank Corp rolled out a four-tranche transaction on Thursday after a roadshow spanning Hong Kong, Singapore and London. Meanwhile, India’s ICICI Bank is marketing a 10 year bullet through its Dubai branch.

Mahindra & Mahindra Financial Services has received “phenomenal” demand for its Rp11bn ($171m) overnight capital increase, which closed about two to three times covered, said a banker on the deal.

Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, filed a draft prospectus for its IPO with the Indian market regulator on Tuesday.

Edelweiss Financial Services has added Rp15bn ($229.6m) to its coffers after pricing its qualified institutional placement at the bottom of the range.

Galaxy Surfactants is planning an IPO in India worth some $200m, having filed a preliminary prospectus with regulators.

India’s ICICI Bank said on Tuesday it will move ahead with a plan to list ICICI Securities, its investment banking and brokerage arm, in a possible Rp30bn ($461m) IPO.

Indian agrochemical producer Crystal Crop Protection has lined up a quartet of local and international firms to lead its potential Rp10bn ($154.8m) IPO, according to a banker on the mandate.

India’s Mahindra & Mahindra Financial Services has hired four banks to manage a Rp10bn ($155m) primary capital increase this year, sources close to the matter said.