SoftBank-Backed Brainbees Surges 52% in Mumbai Trading Debut
- The company’s IPO is India’s third-largest this year
- IPO comes amid rush of companies going public in India
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Baby-products retailer Brainbees Solutions Ltd.’s shares jumped 46% in its trading debut, marking the best listing-day gains for any large Indian initial share sale this year.
Shares soared as much as 52% over the offer price of 465 rupees before closing at 679.10 rupees in Mumbai on Tuesday. The company raised just short of 42 billion rupees ($500 million) in India’s third-largest IPO of 2024 that was oversubscribed more than 12 times.