Shanghai Fosun Pharmaceutical (SHA:600196, HKG:2196) subsidiary Gland Pharma (NSE:GLAND, BOM:543245) is planning to invest up to 20 billion Indian rupees (or 1.64 billion yuan) in Indian mutual funds and government or corporate bonds.
Investments will be in low-risk mutual funds and bond products in accordance with the principle of strict risk control, according to a Tuesday filing with the Shanghai bourse.
The authorization is valid until March 31, 2027.
Fosun Pharma's shares fell nearly 2% in Hong Kong and almost 1% in Shanghai recently.
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