Party Cruisers Ltd. makes a strong debut on the bourses with scrip got listed at Rs 54.00 on the Bombay Stock Exchange, a 5.88 per cent premium to its issue price of Rs 51.00. On the National Stock Exchange, the stock was listed at Rs 54.00.

The company, which raised 0.15 Cr from initial public offering, was subscribed 1.09 times, receiving bids for 16.58 lakhs shares against the total issue size of 15.20 lakhs shares.

The company, listed under T Group Securities post its IPO, opened for subscription from Feb 22 to Feb 25.

Following a strong opening, the scrip touched an intraday high of Rs 54.00 and a low of Rs 51.30, before closing the session up by 0.58 per cent to its listing price at Rs 51.30 on the NSE.

The company anticipates using the proceeds of the issue for ) Expansion of Business through strategic investment) Additional Working Capital) General Corporate Expenses) To meet the expenses of the Issue.

FIRST OVERSEAS CAPITAL LIMITED as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 14,938.10, down 142.65 points, or 0.94 per cent.