State Bank of India SBI

Amber Enterprises, an air conditioner manufacturer, has sealed its Rp6bn ($93.9m) IPO in India after institutional investors, corporations and high net worth individuals flooded into the trade.

Indian state-owned Rites has filed a draft prospectus for an IPO through a syndicate of local bookrunners.

A $300m five year facility for Indian state-owned company Power Finance Corp (PFC), which mandated three banks for the loan in October, is now open to retail participation.

Air conditioner manufacturer Amber Enterprises launched its IPO on Wednesday, gunning for Rp6bn ($93.8m) from the three day bookbuild.

India's Tata Steel has lined up a group of 21 lenders for an up to $2.16bn six year loan, which will be launched into primary syndication in a couple of weeks, said bankers close to the deal.

Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.

AirAsia head honcho Tony Fernandes hinted at a potential IPO for the budget airline group’s India arm through his Twitter account on Wednesday.

The Indian government has launched an up to Rp14.45bn ($227.7m) offer for sale of stock in mining company NMDC.

Tata Steel has mandated a clutch of firms to underwrite its Rp128bn ($2bn) rights offering, part of a wider fundraising by the group across the capital markets.

The Indian IPO market has started the new year with a flourish, with the FIG sector looking especially busy as Bandhan Bank and ICICI Securities kicked off investor meetings.

India’s Bandhan Bank is set to start pre-marketing its $700m IPO this month, according to bankers arranging the deal.

HDFC Asset Management Co will work with Bank of America Merrill Lynch, Citi and Kotak Mahindra Capital as the leads on its IPO, according to bankers close to the transaction.