Shri Venkatesh Refineries Ltd. makes a strong debut on the bourses with scrip got listed at Rs 42.00 on the Bombay Stock Exchange, a 5.00 per cent premium to its issue price of Rs 40.00.

The company, which raised 0.29 Cr from initial public offering, was subscribed 2.80 times, receiving bids for 82.02 lakhs shares against the total issue size of 29.28 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 29 to Oct 01.

Following a strong opening, the scrip touched an intraday high of Rs 43.50 and a low of Rs 42.00, before closing the session up by 5.25 per cent to its listing price at Rs 42.10 on the BSE.

The company anticipates using the proceeds of the issue for To meet Working Capital requirements General Corporate Purpose To meet issue expenses.

Hem Securities Ltd as lead managers & PURVA SHAREGISTRY (INDIA) PVT LTD. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 60,135.78, up 76.72 points, or 0.12 per cent.