South Asia

Indian real estate company Macrotech Developers has kicked off bookbuilding for its up to Rp25.1bn ($338.2m) listing.

ReNew Power, a regular issuer from India's renewable energy sector, raised $585m this week from another green bond – and another complex structure.

IDFC First Bank raised Rp30bn ($409m) this week from a larger than expected sale of primary shares.

The Islamic Republic of Pakistan marketed its first dollar bond in more than three years this week, following the return of the country’s IMF programme. The triple tranche transaction raised the south Asian country $2.5bn — and proved its resilience in the face of the pandemic. Morgan Davis reports.

The Republic of the Maldives priced a $200m sukuk on Monday, marking the country’s first dollar outing in three years.

Shriram Transport Finance Co caught an opportune time to print a $225m tap of a bond on Thursday, with the response to its deal reflecting investor preference for strong Indian credits.

Indian companies have churned out listings rapidly, giving the country’s IPO market its busiest start to the year in more than a decade. The volume has so far been driven by small deals, but large transactions are now looming. Jonathan Breen reports.

Greenko Energy Holdings took $940m from an amortising green bond on Monday, adding to the recent spurt in sustainable issuance from India.

The Republic of the Maldives, which took a big hit to its tourism-reliant economy last year due to the pandemic, announced a tender and new money offer on Monday, returning to the dollar bond market after a three year hiatus.

Delhi International Airport (Dial) had to pay a hefty premium for its $450m green bond amid investor concerns about market volatility and the state of the travel industry.

Indian renewables company Hero Future Energies Asia made its debut in the dollar market on Thursday with a $363m green bond.

India’s Adani Green Energy has raised a $1.35bn green loan to support the construction of projects under its renewable portfolio.