New Delhi, Nov. 18 -- 'Baby Shark' song creator Pinkfong stock price surged by up to 62% on their first day of trading, fueled by strong investor interest in the studio behind YouTube's most-viewed song.

The stock peaked at 61,500 won in early trading on Tuesday. Despite raising a modest 76 billion won ($53 million) through its IPO, the shares were issued at 38,000 won each, the upper limit of the price range.

The offering was highly oversubscribed, with investor demand exceeding the shares available by more than 600 times, according to company disclosures.

Buoyed by the runaway success of "Baby Shark," which has amassed over 16 billion views, the company is launching an IPO to expand its reach beyond toddler audiences and showcase its...