State Bank of India SBI

SBI Life Insurance Co is preparing to treat India to the first billion-dollar IPO in seven years as it readies an eagerly awaited Rp84bn ($1.3bn) listing.

Indian non-banking financial company (NBFC) Bandhan Bank has lined up five bookrunners for its IPO, expected to raise at least $1bn, according to a banker on the transaction.

ICICI Lombard General Insurance, India’s largest private sector non-life insurer, is set to launch its IPO on September 15, and is eyeing up to Rp57bn ($892.8m).

ONGC Videsh (OVL) has closed its dual currency $844m equivalent loan with just one lender joining the dollar tranche in syndication, said a banker who arranged the borrowing.

Indian state-owned Vijaya Bank raised Rp7bn ($109m) from a qualified institutional placement on Thursday, jumping on the chance to tap equity investors after an impressive rally in its stock price.

Indian lender Yes Bank has mandated four Taiwanese banks for its latest syndicated loan, a $200m five year. The firm is raising funds through its branch in Gujarat International Finance Tec-City (Gift City), India’s first international financial services centre.

Indian lender IndusInd Bank has closed syndication for a $300m three year loan, with allocations likely to be out early next week.

Bajaj Finance has set its sights on a Rp45bn ($703m) capital increase as in-demand Indian FIG issuers line up to tap equity investors.

Barbeque-Nation Hospitality has submitted a listing application to the regulator in India for a $100m-plus IPO through four bookrunners.

India’s Cochin Shipyard, one of the few proxies to the defense sector, priced its Rp14.7bn ($230.6m) IPO at the top of expectations after demand trumped supply by an impressive 76.2 times.

Securities and Intelligence Services India has raised Rp7.8bn ($122.5m) after sealing its IPO at the top of guidance, according to a banker on the deal.

A pair of Indian IPOs that launched earlier this week showed investor appetite for new share sales is far from waning.