Adishakti Loha and Ispat Ltd. makes a strong debut on the bourses with scrip got listed at Rs 12.00 on the Bombay Stock Exchange, a 9.09 per cent premium to its issue price of Rs 11.00.

The company, which raised 0.18 Cr from initial public offering, was subscribed 1.74 times, receiving bids for 31.67 lakhs shares against the total issue size of 18.20 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 30 to Oct 05.

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 a To meet the incremental working capital requirementsb To meet General Corporate PurposeThe Objects Clause of the Memorandum and Articles of Association of the Company enables it to undertake the activities for which the funds are to be raised in the present Issue.

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

Meanwhile, the broader benchmark BSE Sensex closed trade at 60,284.31, up 148.53 points, or 0.24 per cent.