ICICI

A swathe of Indian insurers are readying IPOs that could raise some $3bn between them in the next several months, riding a resurgent FIG wave in the country. Expectations are running high that more transactions will hit screens in the second half of the year. John Loh reports.

Indian IPO hopefuls Shalby Hospitals and Matrimony.com have won approval to list from the country’s market regulator.

SBI Life Insurance Co has filed a preliminary prospectus for its $900m IPO, which will see its two biggest shareholders sell down their stakes.

Shareholders of India’s UTI Mutual Fund are weighing an IPO for the asset management firm nearly a decade after its attempt to list.

ICICI Lombard General Insurance Co is looking to go public with an up to $900m deal, submitting a draft prospectus for what could be India’s first IPO from a non-life insurer, according to a banker familiar with the matter.

Au Small Finance Bank’s IPO in India raised Rp19.1bn ($294.5m) for the selling shareholders after it was priced at the top of the range.

India’s Au Small Finance Bank is on track to price its IPO at the top of guidance, raising the lender Rp19.1bn ($294.5m) after the deal was subscribed more than 50 times.

India’s Au Small Finance Bank has begun a three day bookbuild for its Rp19.1bn ($295.6m) IPO, with leads not worried by it being placed on the central bank’s caution list for foreign shareholding.

The Indian Renewable Energy Development Agency (Ireda) has been forced to hold off on its plans to sell a green Masala bond due to new regulatory approval requirements.

India’s Au Small Finance Bank has set the price guidance for its IPO scheduled for later this month, expected to raise up to Rp19.1bn ($296.7m), said a banker close to the deal.

ICICI Bank’s board has approved the sale of part of its stake in ICICI Lombard General Insurance Co via an IPO — the Indian lender’s second such deal following the successful listing of ICICI Prudential Life Insurance Co.

A $651m loan for Cairn India Holdings was launched into general syndication on Monday, with the deal divided into four portions based on the different purposes of the fundraising.