Mazagon Dock Shipbuilders Ltd. makes a strong debut on the bourses with scrip got listed at Rs 216.25 on the Bombay Stock Exchange, a 49.13 per cent premium to its issue price of Rs 145.00. On the National Stock Exchange, the stock was listed at Rs 214.90.

The company, which raised 3.06 Cr from initial public offering, was subscribed 155.51 times, receiving bids for 47,583.92 lakhs shares against the total issue size of 305.99 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Sep 29 to Oct 01.

Following a strong opening, the scrip touched an intraday high of Rs 216.65 and a low of Rs 173.00, before closing the session up by 19.31 per cent to its listing price at Rs 173.00 on the BSE.

The company anticipates using the proceeds of the issue for (i) The filing fees to SEBI;(ii) NSE/BSE charges for use of software for the book building;(iii) payments required to be made to Depositories or the Depository Participants; and(iv) payments required to be made to Stock Exchange for initial processing, filing and listing of the Equity Shares.

Axis Capital Ltd.,Edelweiss Financial Services Ltd.,JM Financial Ltd.,Yes Securities (India) Ltd.,DAM Capital Advisors Limited as lead managers & Alankit Assignments Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 40,593.80, up 84.31 points, or 0.20 per cent.