business ๐ Temasek's India spree: 3 IPOs surge ๐
Singapore's state investor, Temasek Holdings, is having a major win streak in India after three of its portfolio companies debuted this week. Shiprocket listed at a 35% premium, while Milky Mist traded 40% above its IPO price on Wednesday. Molbio Diagnostics also debuted with a 26% premium, and Manipal Health is at a 25% premium to its IPO price. Temasek stated India is their best-performing market over the last 10 years, having deployed nearly $9 billion there in three years. The fund maintains its optimism, seeing structural growth driven by the large domestic consumer market.