India

BNP launches Indian equities-invested funds

BNP Paribas Investment Partners launched two new private placement funds invested in Indian equities. Their management is delegated to Sundaram BNPP AM, the Indian equity specialist of BNPP IP.

BNP launches Indian equities-invested funds

BNP Paribas Investment Partners launched two new private placement funds invested in Indian equities. Their management is delegated to Sundaram BNPP AM, the Indian equity specialist of BNPP IP.

Bank of Baroda, Andhra Bank to launch insurance

India regulator's nods IndiaFirst Life kick off in December with $43.34mln start-up capital.

Punjab National Bank finds no takers for PNB Gilts

Lack of buyer leaves PNB to acquire PNB Gilts as an option.

HSBC’s Indian equity fund delivers strong returns

HSBC Global Investment Funds – Indian Equity, one of the world’s largest offshore Indian equity funds, rose 96 percent in the year-to-date, versus a 66 percent gain in the S&P/IFCI India index over the same period. The Fund, with over US$5 billion in assets, is the top-performing Indian equity fund in Hong Kong this year.

SocGen sees India as catalyst for growth

In the next two to five years, SocGen is set to add services to existing locations in India and to acquire 37 percent stake in SBI Funds Management.

Dhanalakshmi sizes up asset management options

Dhanalakshmi Bank intends to enter the asset management business by investing US$3.085 million to US$4.1 million in an existing fund. The move could make Dhanalakshmi the first old private sector bank to hold stake in an AMC.

Nomura becomes primary dealer in India

Nomura Fixed Income Securities Private Ltd has been granted a Primary Dealer license by the Reserve Bank of India, becoming Nomura's flagship entity in India to pursue trading and activities in the Indian fixed income market.

Equity offering of Tata Power to raise $335 million

The Tata Power Company Limited, India's largest integrated private power company, has priced an equity offering in the form of Global Depository Receipts for $335 million to fund capital expenditures of existing and future projects. Each GDR will represent 1 equity share, of a nominal value Rs.10 per equity share of the Company. The Company will be issuing 14,838,110 GDRs and each GDR has been priced at $22.577 as per relevant pricing guidelines for GDRs. The issue was priced on 21 July 2009 and listing is expected to take place on or about 27 July 2009.

Morgan Stanley gets dealership license in India

Morgan Stanley has received approval for a Primary Dealership (PD) license from the Reserve Bank of India, a significant step in further building out the Firm's fixed income sales and trading platform and capabilities in India. The license, which has been awarded to the Firm's PD entity, Morgan Stanley India Primary Dealer Private Limited (MSIPD), will allow Morgan Stanley to participate in Government of India bond auctions, as well as to make markets and trade in Indian government bonds and other government liquidity instruments.

HSBC to obtain remaining 6.14% Investsmart shares

HSBC aims to delist Investsmart shares from the Bombay Stock Exchange and the National Stock Exchange of India, along with its plan to acquire the 6.14 percent of Investsmart shares currently owned by its minority shareholders.

UBS expands research products in Indian sector

UBS forged an alliance with Noble to expand its research products in Indian mid and small-cap stocks.