Dodla Dairy Ltd. makes a strong debut on the bourses with scrip got listed at Rs 528.00 on the Bombay Stock Exchange, a 23.36 per cent premium to its issue price of Rs 428.00. On the National Stock Exchange, the stock was listed at Rs 0.00.

The company, which raised 1.22 Cr from initial public offering, was subscribed 31.77 times, receiving bids for 3,861.22 lakhs shares against the total issue size of 121.54 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Jun 16 to Jun 18.

Following a strong 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 Repayment and/ or prepayment, in full or part, of certain borrowings availed by the Company from ICICI Bank Limited, the Hongkong and Shanghai Banking Corporation Limited and HDFC Bank Limited Funding capital expenditure requirements of the Company General corporate purposes.

Axis Capital Ltd.,ICICI Securities Ltd as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 52,925.04, up 226.04 points, or 0.42 per cent.