Paras Defence and Space Technologies Ltd. makes a strong debut on the bourses with scrip got listed at Rs 475.00 on the Bombay Stock Exchange, a 171.42 per cent premium to its issue price of Rs 175.00. On the National Stock Exchange, the stock was listed at Rs 469.00.

The company, which raised 0.98 Cr from initial public offering, was subscribed 309.41 times, receiving bids for 30,194.82 lakhs shares against the total issue size of 97.59 lakhs shares.

The company, listed under T Group Securities post its IPO, opened for subscription from Sep 21 to Sep 23.

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 Purchase of machinery and equipment Funding incremental working capital requirements of the Company Repayment or prepayment of all or a portion of certain borrowings/outstanding loan facilities availed by the Company General corporate purposes.

ANAND RATHI ADVISORS LTD as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 59,126.36, down 286.91 points, or 0.48 per cent.