PRE-MARKET INDIAN STOCK NEWS: Adani raises INR 150bln in sahre sale, Indian Oil Corp charters VLCC to load 2mln of Iraqi oil

India

Adani Enterprises (ADE IS) - Indian authorities have found that Mumbai International airport’s duty-free shops run by Adani broke the law by selling nicotine patches, which the government considers a public health hazard. Elsewhere, the Co. says it raised INR 150bln from its upsized share sale, with the funds going towards capital expenditure.  (Reuters/Adani)

Indian Oil Corp (IOC IS) - Co. has reportedly chartered a VLCC to load 2mln barrels of Iraqi oil from Basrah Oil Terminal later in July, Reuters reports. 

SBI Funds Management - India’s largest asset manager has reportedly drawn interest from Abu Dhabi’s ADIA and Singapore’s GIC as part of its USD 1.2bln IPO, Reuters reports. (Reuters)

Temasek (TMSK IS) - Company-backed Cult.Fit has filed paperwork to raise c. USD 100mln in an Indian IPO. (Reuters)

Other News

• India’s state-run refiners are reportedly in talks with traders marketing Iranian crude and are preparing to buy barrels if the US extends waivers or eases restrictions, Bloomberg reports.