AAA Technologies Ltd. makes a strong debut on the bourses with scrip got listed at Rs 44.50 on the Bombay Stock Exchange, a 5.95 per cent premium to its issue price of Rs 42.00. On the National Stock Exchange, the stock was listed at Rs 44.50.

The company, which raised 0.24 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 24.36 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Sep 30 to Oct 05.

Following a strong opening, the scrip touched an intraday high of Rs 44.60 and a low of Rs 42.30, before closing the session up by 3.80 per cent to its listing price at Rs 43.60 on the NSE.

The company anticipates using the proceeds of the issue for (a) Expansion and development of business operations across various cities in India,(b) Working Capital Requirements and Security Deposit towards Bank Guarantees/LC,(c) Issuerelated expenses.

CHARTERED FINANCE MANAGEMENT LIMITED as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 11,934.50, up 3.55 points, or 0.02 per cent.