Caller identification firm Truecaller, which earns majority of its revenues from India, made its trading debut at $6.82 (60 Swedish Krona) per share on Nasdaq Stockholm, up 15.4 percent from the company's listing price, giving the company a market cap of around $2.5 billion.
Earlier on October 8, Truecaller priced its public offering at $5.91 (52 Swedish krona), corresponding to a market cap of $2.2 billion (19,431 Swedish Krona). The firm was looking to mop up around $428.2 million (3,770 million Swedish Krona) through the offering, assuming the over-allotment option is exercised in full. Of this, the primary capital being raised is $114 million (1,000 Swedish Krona).
The firm set a price of 44-56 Swedish krona per share for its listing of Class B shares on September 29. It had first announced plans to list on Nasdaq Stockholm on September 15.
India is Truecaller's biggest market