Asia's biggest company has called the listing a multi-billion-dollar vote of confidence in the city's markets.
The deal would be the world’s biggest cross-border secondary listing - will be seen as a boost for Hong Kong.
The Alibaba Group's various shopping platforms' total GMV exceeded USD 10 billion in just 29:45 seconds.
Alibaba netted sales worth USD 30 billion on its platforms on Singles’ Day last year, dwarfing the USD 7.9 billion.
India will celebrate 11.11 with the UC Shopping Festival in association with Paytm, VMate and 9Apps.
Jack Ma co-founded Alibaba in 1999 that became one of the world's biggest internet firms.
Ma stepped down Tuesday as part of a succession announced a year earlier.
UCWeb also have plans to start the sale of movie tickets online.
Paytm currently has a monthly active user base of around 140 million.
MSME Minister Nitin Gadkari said that it will generate a turnover of Rs 10 lakh crore in two years of its launch.