Global IPO and M&A Markets Boom Simultaneously as SpaceX Plunges

M&A/IPO | Tue Jul 21 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 9 sources

India and Hong Kong saw IPO fever while Big Pharma biotech M&A surged, and SpaceX underperformed after its listing.

Analysis

[SBI Funds Management] surged 8.5% on debut of $1 billion India IPO ^[1][8]

• Rose 8.5% on Mumbai debut day
• Subscription oversubscribed 41.6 times
• Institutional investor tranche subscribed 140 times
• India's largest IPO of the year

[Zhongji Innolight] received approval for Hong Kong listing of up to $8 billion ^[6]

• Shares jumped up to 8% after Hong Kong listing approval
• Listing size of up to $8 billion
• Surpasses Luxshare Precision's $3.1 billion IPO
• Chinese company related to AI supply chain

[Big Pharma] surged biotech M&A deals to record highs ^[3]

• FOMO sentiment spreading amid looming patent cliff
• Race to secure next-generation blockbuster drugs
• Pharmaceutical acquisition activity at all-time high

[SpaceX] fell 11% below IPO price and saw surge in short-selling ^[5][9]

• Down 11% from $135 IPO price
• Short interest surged to 185 million shares
• Bets amounting to about 29% of public float
• Approximately $25 billion in downside bets

[Blockbuster IPO Market] chilled major IPO sentiment amid SpaceX slump ^[7]

• SpaceX share weakness worsening market sentiment
• Negative impact on planned major listings

[Turkish Airlines] explored acquisition opportunities in Asia and South America ^[2]

• Pursuing global network expansion
• Searching for acquisition targets in Asia and South America

[Forward Industries] withdrew acquisition proposal for Brera Holdings ^[4]

• Officially confirmed no intention to acquire
• Final withdrawal after non-binding proposal on June 9

Sources

• [1] SBI Funds Rises 8.5% in Debut After $1 Billion India IPO - Bloomberg Markets
• [2] Turkish Airlines Exploring Acquisitions in Asia, South America - Bloomberg Markets
• [3] Biotech deals surge to record as fear of missing out grips Big Pharma - Financial Times
• [4] Forward Industries decides against Brera Holdings takeover - Seeking Alpha Market News
• [5] Should You Buy SpaceX Stock 11% Below Its IPO Price? - The Motley Fool
• [6] China's Zhongji Innolight sees shares surge after Hong Kong listing approval - CNBC World Markets
• [7] SpaceX's sagging stock 'dampens the mood' for blockbuster IPOs - CNBC Investing
• [8] India's biggest IPO this year rakes in bids worth $31 billion, powered by institutional frenzy - CNBC Finance
• [9] Short sellers load up against SpaceX as stock drops below IPO price - CNBC Finance