ICICI

The Indian government has offloaded 2% of its stake in ITC, the country’s largest cigarette maker, raising Rp67bn ($995.2m) and coming closer to its divestment target for the financial year, according to a banker on the deal.

Genesis Colors, which owns luxury Indian brands Satya Paul and Bwitch, has secured approval from the country’s market regulator to go public via a Rp6.5bn ($96.5m) IPO.

India’s AU Financiers has filed a draft prospectus for its IPO, offering only secondary shares in a deal slated for the first half of this year.

A dual currency financing to back Indian company Intas Pharmaceuticals’ acquisition of a portfolio of assets in the UK and Ireland has netted $650m-$670m of commitments.

A dual currency financing to back Indian company Intas Pharmaceuticals’ acquisition of a portfolio of assets in the UK and Ireland has attracted subscriptions totalling $350m, with banks given another week to commit.

Invitations are out for a $1.8bn Asian loan that will refinance a US term loan B for Novelis. The launch comes about a month after the firm mandated 10 lenders to arrange the borrowing.

The Indian government is aiming to add around Rp10bn ($146.9m) to its coffers from a sell down of shares in Housing and Urban Development Corp, said a banker working on the deal.

India’s two main stock exchanges are set to start 2017 on a positive note, with Bombay Stock Exchange (BSE) likely to launch a $200m deal this month and National Stock Exchange (NSE) bringing a jumbo $1bn IPO in the second quarter.

Robust demand is expected to result in an oversubscription for a dual currency financing to back Indian company Intas Pharmaceuticals’ acquisition of a portfolio of assets in the UK and Ireland.

Tata International Singapore has mandated one bank to supply a $110m loan, which will be used to make payments to bondholders.

US based-Novelis, part of Indian company Aditya Birla Group, has lined up a syndicate of 10 lenders to arrange an Asia loan that refinances a $1.8bn US term loan B from last year.

A dual currency acquisition financing for Indian company Intas Pharmaceuticals’ purchase of a portfolio of assets in the UK and Ireland, was launched into senior syndication last week. The trade offers banks two titles, including that of mandated lead arranger and bookrunner.