Stock in WNS, the India-based outsourcing firm floated by private equity firm Warburg Pincus, rose 6.5% on its first day of trading on the New York Stock Exchange in a difficult market for initial public offerings.

WNS opened at $21.10, above its $20 offer price. The stock reached highs of $21.50 during morning trading, on volume of about two million shares. The company raised $224m (€178m) by offering 11.2 million American depositary shares at $20 per share.