Markolines Traffic Controls Ltd. makes a weak debut on the bourses with scrip got listed at Rs 62.20 on the Bombay Stock Exchange, a 20.25 per cent discount to its issue price of Rs 78.00.

The company, which raised 0.51 Cr from initial public offering, was subscribed 2.07 times, receiving bids for 106.15 lakhs shares against the total issue size of 51.28 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 15 to Sep 20.

Following a weak opening, the scrip touched an intraday high of Rs 65.30 and a low of Rs 59.10, before closing the session up by 16.28 per cent to its listing price at Rs 65.30 on the BSE.

The company anticipates using the proceeds of the issue for a) Prepayment/Repayment of certain debt facilities availed by our Companyb) To Meet Working Capital Requirementsc) General Corporate Purposes.

Gretex Corporate Services Pvt. Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 60,077.88, up 29.41 points, or 0.04 per cent.