Macrotech Developers Ltd. makes a weak debut on the bourses with scrip got listed at Rs 0.00 on the Bombay Stock Exchange, a 100.00 per cent discount to its issue price of Rs 486.00. On the National Stock Exchange, the stock was listed at Rs 436.00.

The company, which raised 5.14 Cr from initial public offering, was subscribed 1.20 times, receiving bids for 617.49 lakhs shares against the total issue size of 514.40 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Apr 07 to Apr 09.

Following a weak 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 BSE.

The company anticipates using the proceeds of the issue for Reduction of the aggregate outstanding borrowings of the Company on a consolidated basis Acquisition of land or land development rights General corporate purposes.

Axis Capital Ltd.,Edelweiss Financial Services Ltd.,JP Morgan India Private Limited.,Kotak Mahindra Capital Company Ltd.,YES Securities (India) Ltd.,JM Financial Ltd.,SBI Capital Markets Limited,IIFL Securities Limited,BOB Capital Market,ICICI Securities Ltd as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 48,832.03, up 28.35 points, or 0.05 per cent.