The actions of Fosun and Alibaba could spark a trend, but it is unlikely to hurt as their reasons for selling shares have little to do with India.
In the last couple of days, there have been reports of at least two large Chinese investors looking to exit or reduce their investments in Indian companies. The Fosun Group was reported to be considering the sale of its controlling stake in Hyderabad-based drugmaker Gland Pharma while two subsidiaries of Alibaba were keen to pare their investments in Zomato through open market sales (a block deal for over 3% of the food delivery company’s shares took place on Wednesday). Even Xiaomi Corp. was reported to be looking to exit its investments in the Indian startup ecosystem.
Normally, these actions wouldn’t …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai