BENGALURU (Reuters) – Shares of Indian baby products retailer FirstCry debuted 40% higher in pre-open trade on Tuesday as investors bet on the booming child care market in the world’s most populous country.
The stock listed at 651 rupees on the National Stock Exchange of India, compared with an offer price of 465 rupees.
FirstCry’s $501 million public float garnered bids worth $3.36 billion last week.
The company is India’s first pure-play baby products and childcare retailer to go public.
(Reporting by Manvi Pant in Bengaluru; Editing by Mrigank Dhaniwala)
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