V-Marc India Ltd. makes a strong debut on the bourses with scrip got listed at Rs 46.50 on the Bombay Stock Exchange, a 19.23 per cent premium to its issue price of Rs 39.00. On the National Stock Exchange, the stock was listed at Rs 46.50.

The company, which raised 0.60 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 60.00 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Mar 25 to Mar 31.

Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.

The company anticipates using the proceeds of the issue for
“Funding capital expenditure of our proposed new manufacturing facility which is being set upTo enable us to manufacture high voltage cables, produced by dry/nitrogen gas cure technology by way of installation of Catenary Continuous Vulcanization (CCV) line;Expanding our existing installed capacities (hereinafter referred as the “Project); Funding the working capital requirements of our Company; General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 14,873.80, up 54.75 points, or 0.36 per cent.