State Bank of India SBI

LIC mandates 10 banks to the syndicate team of its planned listing

Indian insurance giant readies record listing, but pushes back the pitching process by a few days

India's IPO market is seeing a burst of supply, fuelled by listings of technology companies and benefitting from concerns around China's regulatory environment.

Cement producer Nuvoco Vistas Corp is aiming to raise Rp50.9bn ($686.2m) from its listing of primary and secondary shares in India.

Indian power finance company REC, formerly known as Rural Electrification Corp, has mandated five banks for a $600m loan.

Glenmark Life Sciences, a pharmaceutical ingredients manufacturer, wrapped up a three-day bookbuild for its India IPO on Thursday. The deal, worth up to Rp15.5bn ($208.6m), was covered 15.5 times.

CarTrade Tech was approved by market regulator Securities and Exchange Board of India on Monday to proceed with its listing.

Pharmaceutical ingredients manufacturer Glenmark Life Sciences is set to launch a Rp15.1bn ($202.6m) IPO on Tuesday.

Star Health and Allied Insurance filed a draft IPO prospectus with India’s securities regulator this week, become a rare private sector insurer to head for a listing.

India’s Ministry of Steel has kicked off a two-day sale of its shares in National Mineral Development Corp, eyeing at least Rp19.3bn ($260m) in proceeds.

ONGC Videsh, the overseas subsidiary of Indian state-owned Oil and Natural Gas Corp, has launched a $500m loan into general syndication. It is targeting a broad group of lenders for the fundraising, owing to lending caps imposed on banks.

Indian Oil Corp has mandated three banks for its $500m loan return, after inviting firms to bid for the transaction last month.