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India's NSE to Launch IPO Amid Investor Caution

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The National Stock Exchange of India (NSE) is all set to launch its IPO on Thursday, according to market data from the NSE site.

The public offering, structured as an offer for sale, will see existing shareholders sell shares instead of the company issuing new stock.

The IPO will begin with anchor investor bidding from institutional funds, following which open subscriptions will begin Thursday, Sept. 18 and close Sept. 21, Reuters reported the same day.

The company will be valued at $46 billion, with shares being available for between 1,700 rupees and 1,785 rupees apiece, according to earlier reports.

The proposed price range is reportedly 15%-20% lower than initial roadshow expectations as investors show caution over slower growth in options trading amid modified regulatory measures, Reuters said citing people with knowledge of the matter.

What else is happening in Asia?

Asia

Guangdong Skychem Technology Proposes Hong Kong Listing; Shares Up 4%

Guangdong Skychem Technology (SHA:688603) plans to list its H shares on the Hong Kong bourse to advance its globalization strategy and build an international capital operation platform.The proposal requires approvals from the board and shareholders as well as Chinese and Hong Kong regulators, according to a Wednesday filing with the Shanghai bourse.Shares of the electronic chemical manufacturer climbed 4% in recent trade.

Hang SengSHA:688603
Asia

Market Chatter: Anthropic to Open Office in Singapore in October

Artificial intelligence company Anthropic is set to open its office in Singapore in October, local media reports said on Wednesday, citing a company statement.This will be the company's fifth office in the Asia-Pacific region, with existing offices in Tokyo, Bengaluru, Seoul, and Sydney, the reports said.Anthropic has appointed Dale Finlay as general manager of ASEAN to lead regional commercial operations based out of Singapore.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^STI
Asia

Range Intelligent Computing Technology to Commit 1 Billion Yuan to AI Fund

Range Intelligent Computing Technology (SHE:300442) will commit 1 billion yuan to an artificial intelligence fund, according to a Tuesday after-hours filing with the Shenzhen bourse.The amount is equivalent to 20.4081% of the 4.90-billion-yuan Xiamen Times Deep Venture Capital Fund Partnership, the filing said.The fund, which has a term of seven years, will invest in artificial intelligence, embodied AI, technology applications, and frontier technologies, the filing said.Shares in the digital infrastructure and data center operator rose 2% during the midday break on Wednesday.

SHE:300442