Temasek-backed Indian companies have posted strong gains after recent market debuts, led by logistics firm Shiprocket, whose shares listed at 131 rupees and ended Wednesday at 143 rupees, nearly 50% above the 97-rupee IPO price. The $170 million offering was oversubscribed nearly 100 times by institutional and retail investors. Milky Mist traded 40% above its IPO price on Wednesday after listing at an 18% premium, while Molbio Diagnostics traded 26% above its offer price after falling during Wednesday’s session. Manipal Health was up 25% from its IPO price. Temasek has invested nearly $9 billion in India over the past three years and has a total India exposure of $42 billion, even as foreign investors sold Indian equities. The sovereign wealth fund remains constructive on India’s structural growth, citing domestic consumption, formalization, infrastructure and deepening capital markets.