: Shares of Chennai-based startup rise 32% in US stock markets after billion IPO #IndiaNEWS The shares of Chennai-based software startup Freshworks rose 32% on Wednesday on New York-based stock market

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Shares of Chennai-based startup rise 32% in US stock markets after billion IPO #IndiaNEWS
The shares of Chennai-based software startup Freshworks rose 32% on Wednesday on New York-based stock market Nasdaq after it raised billion (nearly Rs 7,370 crore) in its initial public offering, or IPO, reported Bloomberg. The company got listed on Nasdaq at (approximately Rs 2,653) per share on Wednesday. At closing of trading, the shares of the company were priced at .55 (about Rs 3,505).An IPO is a process in which private companies offer shares to the public through issuance of new stocks. At the end of the IPO process, the company gets listed on the stock exchange and is allowed to raise capital from public investors.The company’s stock had opened higher at at .50 (around Rs 3,206) than its initial listing price, reported News18. During the training, the stock’s price had risen to .24 (approximately Rs 3,408).“Today is a dream come true for me – from humble beginnings in Tiruchirappalli to ringing the bell at Nasdaq for the FreshWorks IPO,� Freshworks Chief Executive Officer and founder Girish Mathrubootham said in a tweet on Wednesday. “Thank you to our employees, customers, partners, and investors for believing in this dream.� Today is a dream come true for me - from humble beginnings in #Trichy to ringing the bell at...Read more

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