ICICI

Birla Carbon, part of the India’s Aditya Birla Group, has shortlisted banks to supply a $925m dual-tranche facility that will replace a loan it borrowed in 2011.

India’s Jindal Steel & Power is understood to have asked banks to relax a covenant on a $400m borrowing sealed in April 2013.

Coffee Day Enterprises has priced its Rp11.94bn ($183m) IPO at the top end of guidance, finding more than enough demand from investors. The deal’s success, particularly thanks to interest from institutional accounts, has paved the way for the next big Indian listing as InterGlobe Aviation gets ready to take off.

Essel Infraprojects, part of Indian conglomerate Essel Group, is planning an IPO in 2016 and could file a preliminary prospectus with the Securities and Exchange Board of India (Sebi) by the end of the year.

Japan Post sets sail with IPOs — Datang Environment files in HK — Banpu Power eyes Thai float — Larsen & Toubro seeks $300m listing

Quick Heal Technologies, which makes anti-virus software, has lodged a draft prospectus with the Securities and Exchange Board of India for an IPO that could raise $100m-$150m.

Sandhar Technologies has filed a listing application with the Securities and Exchange Board of India, with ICICI Securities, IDFC Securities, IIFL Holdings and Jefferies leading the trade.

Larsen & Toubro Infotech, the information technology services unit of Indian conglomerate Larsen & Toubro, plans to raise $300m from an IPO of only secondary shares.

It’s been talked about for a long time, but India may finally be getting its first infrastructure investment trust (InvITs) listing, with IRB Infrastructure Developers securing board approval to establish one.

India is trying to get its life insurers out from between a rock and a hard place by pushing ahead with new legislation to ease the way for their IPOs. The move has been a long time coming, but any marquee public offerings from the country’s life insurance firms are still at least a year away, writes John Loh.

Interglobe Aviation, the holding company of Indian budget carrier IndiGo, and Coffee Day Enterprises are looking to launch their IPOs in October, in deals that could raise a combined Rp36.5bn ($548.19m).

India’s state banks will shoulder the heaviest burden in the industry’s challenge to raise $140bn of new capital over the next four years to meet Basel III regulations, according to Fitch. Public banks face steep medium-term obstacles such as poor balance sheet assets, falling capital generation capabilities and overdependence on state support, it said.