Azure Power Global Shares Drop After IPO
October 15, 2016
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Azure Power Global debuted on the New York Stock exchange as the first India solar company to go public in the U.S. under the trading symbol “AZRE”. The company had earlier revised its IPO filing to raise $75 million (~Rs.5 billion) from the previously announced $140 million (~Rs.9.32 billion) and offered 3,409,091 shares at a price of $18/share (~Rs.1,199/share), below the marketed price range of $21-$23/share (~Rs.1,399- Rs.1,532/share).