GMR Solutions Priced $15, Shares Down 10%

Shares opened at $13.50 on NYSE, 10% below the $15 IPO price, valuing the company at $3 billion.
The company offered 31.9 million Class A shares, originally targeting $22‑$25 per share to raise up to $798 million.
Pricing was set at $15 per share, generating roughly $479 million in proceeds, well below the planned range.
Book‑runners were J.P. Morgan, KKR Capital, BofA, Barclays, Goldman Sachs, Citigroup, Evercore ISI, Morgan Stanley and UBS; co‑managers Capital One, Loop, Regions, Strong.