The company priced 30 million shares at $26 a share, all by selling shareholders.
The stock dipped 1.44% to $25.98 at 10 a.m. More than 6.6 million shares had changed hands, which easily beat the average volume of 1,099,400.
Shares of HD Supply were lower Tuesday after the stock was downgraded to SECTOR PERFORM from OUTPERFORM at RBC Capital Markets.
Stocks move slightly higher Tuesday as nerves peak over how the Federal Reserve and the Bank of Japan will vote in their separate two-day meetings.
Stocks hold modest gains as voting members of the Federal Open Market Committee convenes for their widely anticipated meeting.