KKR Backed GMR IPO Debut Raises 478.7 Million After Valuation Target Cut

Investors pushed the valuation down nearly half

KKR-backed emergency medical services provider GMR Solutions made its U.S. IPO debut raising $478.7 million, after cutting its valuation target to about $3.3 billion from an earlier $5 billion. The smaller raise reflects investor caution and selectivity toward new listings, even as the company seeks to expand its presence in the U.S. healthcare services market.