India’s hot market for share sales is delivering wins for Japanese technology investor SoftBank Group Corp., whose own stock has taken a hit from disappointing earnings and a reality check on artificial intelligence.
Three firms backed by SoftBank have made solid Mumbai debuts in the past week. Shares of e-scooter maker Ola Electric Mobility Ltd., the biggest of the initial public offerings, have surged more than 60%. Software maker Unicommerce eSolutions Ltd.’s shares are already up more than 80% while baby-products retailer Brainbees Solutions Ltd.’s have gained about 40%.
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