Issuers rule in Indian CB market

Banks main losers, but investors show signs of becoming more cautious.

Deal of the month it wonÆt be, but the $500 million convertible bond sold by Reliance Communications Ventures last week has attracted a lot of attention in the market. Short-term reactions aside, the issue highlights one of the key problems of the Indian CB market û deal are often far too aggressively priced.

The bookrunner of the Reliance deal - Deutsche Bank - has refuted claims that it was mispriced and it is still sitting on a large chunk of...

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