Alibaba, closed sesame

Chinese e-commerce company Alibaba's announcement of a blockbuster initial public offering (IPO) valuing the company at $175 billion may have attracted the attention of global investors but the Indian stockbroking community, which also has an opportunity to buy shares, is not so excited. Asked whether he would invest in the IPO, a prominent broker said, "The only Alibaba I heard about was in story books when I was a kid. Will I put my money? The answer is a clear no as the opportunity is here in India and not in Alibaba."