India
The IPO is India’s first in about a month.
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Greater China
Foreign investment is tightly restricted or off-limits in China’s space sector.
The stock opened flat to the offer price at HK$66.4 before slipping to HK$59.05.
Hong Kong regulators have also urged banks to check investors’ sources of funds.
The stock was last up 15.9% at 106.67 rupees as of 12:10 p.m. IST on Thursday.
World
Abu Dhabi wealth fund ADIA bought a minority stake in the firm in 2023.
The debut comes amid a relentless surge in share sales by Chinese companies seeking to raise offshore capital.
The investment could value the company between $52b and $59b.
The company plans to price the issue at $135 per share.
The company has invested more than $300m in healthcare businesses over the past decade.
