Atam Valves Ltd. makes a flat debut on the bourses with scrip got listed at Rs 40.00 on the Bombay Stock Exchange, a 0.00 per cent discount to its issue price of Rs 40.00.

The company, which raised 0.11 Cr from initial public offering, was subscribed 2.91 times, receiving bids for 32.74 lakhs shares against the total issue size of 11.25 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 18 to Sep 23.

Following a flat opening, the scrip touched an intraday high of Rs 40.00 and a low of Rs 38.00, before closing the session up by 2.37 per cent to its listing price at Rs 39.05 on the BSE.

The company anticipates using the proceeds of the issue for Repayment/ Prepayment of certain secured borrowings availed by the Company, General corporate purposes.

Fedex Securities Private Limited as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 39,574.57, up 600.87 points, or 1.54 per cent.