ICICI

India’s Avenue Supermarts is set to price its Rp18.7bn ($281.0m) IPO at the top of guidance after an explosion of demand on the final day of bookbuilding covered the offer more than 100 times over, according to a banker working on the deal.

India’s Avenue Supermarts launched bookbuilding for its potential Rp18.7bn ($280.6m) IPO on Wednesday, managing to cover it by the second day.

India’s Avenue Supermarts has opened the gates to its potential Rp18.7bn ($280.6m) IPO after securing nearly a third of the offering with anchor investors.

ICICI Bank made an opportunistic move on Thursday, snagging a 5.5 year bond at the tightest spread for an Indian lender in nearly a decade.

The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.

India’s Avenue Supermarts, the owner of supermarket chain D-Mart, has set the price range for its IPO, which could raise up to Rp18.7bn ($280m), according to a banker on the deal.

Novelis’s $1.8bn Asian refinancing of its US term loan B has seen four new lenders come in during syndication, as the leads hold out for several more large commitments.

The Indian government has raised Rp16.7bn ($250.5m) by selling a portion of its stake in Bharat Electronics through a popular offer for sale.

The Indian government kicked off a two-day bookbuild on Wednesday to sell 5% of its stake in Bharat Electronics worth Rp16.8bn ($250.9m).

India’s market regulator has given the go ahead to IRB InvIT Fund’s IPO, making it the first infrastructure investment trust in the country to win approval to list. But IndiGrid and Reliance Infrastructure are hot on its heels.

Allocations are out for a dual currency financing to back Indian company Intas Pharmaceuticals’ acquisition of a portfolio of assets in the UK and Ireland.

Most of Asia's equity capital markets were still waking up from the post-holiday slumber this week but bankers in India were on their toes, with IPO activity in the country continuing apace.