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KKR backed GMR tumbles in NYSE debut valuing firm at 3 billion after IPO price cut
Business
Published on 13 May 2026
Shares sank 10 percent after the IPO price was trimmed
Emergency medical services provider GMR, backed by KKR, opened on the NYSE with a sharp drop. Shares fell about 10%, dragging its market capitalization to roughly $3.01 billion. The slump followed a strategic reduction in IPO pricing, underscoring the market’s cautious reaction to the company’s public debut.
- GMR shares plunged around 10% on NYSE debut
- Market cap settled near $3.01 billion after IPO pricing cut
- KKR backed the emergency medical services firm’s listing
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times