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 Meanwhile, in Hong Kong, Zhongsheng prepares to start the bookbuilding for its recently withdrawn IPO of up to $1 billion.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

And India isn't the only place where a firmer stockmarket is translating into renewed primary market activity. In Hong Kong, Far East Global Group, which provides building facade materials, including glass and curtain walls, started...

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