Franklin Templeton bought shares of several Indian tech startups as concerns over valuations and higher interest rates shaved more than $20 billion off the market value of five high-profile recent market debutants.
“We are looking at new technology companies as their valuations have reset,” Anand Radhakrishnan, chief investment officer for equities at Franklin Templeton’s India unit, said in an interview. “More importantly, there is data available about their business models.”
