Indian deals suggest confidence is returning

An existing shareholder sells $422 million worth of shares in Tata Motors, while Exide Industries completes a $119 million QIP. Meanwhile, in Hong Kong, Zhongsheng prepares to start the bookbuilding for its recently withdrawn IPO of up to $1 billion.

In a further confirmation that confidence is returning to the region's equity markets, two deals were completed in India last night, raising a combined $541 million.

An existing shareholder sold Rs19.2 billion $422 million worth of shares in Tata Motors, while battery maker Exide Industries raised Rs5.4 billion $119 million of fresh capital from a qualified institutional placement. The investor response to both deals was solid and should help convince other issuers waiting in the wings to take the plunge....

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