With 18 banks on board, the syndicate for ICICI Prudential Asset Management Company's IPO is the largest ever seen in India, but only two banks – Citigroup and ICICI Securities – are playing meaningful roles in marketing and pricing the deal and filling the anchor book, according to people with knowledge of the deal. 

Private equity-backed Medline launched a US$5.4bn Nasdaq IPO on Monday, positioning itself as a mature business still primed for growth, with roughly half the offering already allocated.

CoreWeave spent nearly US$300m of the proceeds from its new US$2.25bn convertible bond on an equity derivative that effectively lifts the conversion threshold to more than five times the valuation at the AI data centre lessor's IPO in March.

Driven by a perfect storm of stock gains, an uptick in sector M&A and the afterglow of a major healthcare conference, biotech issuance resumed in force as eight drug developers combined for a record US$3.5bn on Tuesday night from marketed stock sales.