India's Raymond Lifestyle falls after debuting with $2.2b valuation

India's Raymond Lifestyle falls after debuting with $2.2b valuation

A man looks up at an electronic ticker board that indicates stock figures at the Bombay Stock Exchange (BSE) in Mumbai, India, on Friday, Jan. 27, 2017. Photographer: Dhiraj Singh/Bloomberg

Indian apparel maker Raymond Lifestyle, carved out of Raymond, notched a $2.19 billion valuation in its stock market debut on Thursday, before shares fell by the maximum allowed 5% as investors booked profits.