India's Universal braves record IPO as market sinks

India is set to launch its largest initial public offering to date, which could raise up to $3bn (€2.3bn), even after its stock market plummeted over 20% last month.

DFL Universal, a real estate developer, is set to begin pre-marketing its flotation to investors after receiving approval from the Indian regulator, Bloomberg reports, citing bankers working on the deal.

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