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 Meanwhile, in Hong Kong, Zhongsheng prepares to start the bookbuilding for its recently withdrawn IPO of up to $1 billion.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....

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition