Aether Industries Ltd. makes a strong debut on the bourses with scrip got listed at Rs 706.15 on the Bombay Stock Exchange, a 9.99 per cent premium to its issue price of Rs 642.00. On the National Stock Exchange, the stock was listed at Rs 704.00.

The company, which raised 1.26 Cr from initial public offering, was subscribed 4.73 times, receiving bids for 595.21 lakhs shares against the total issue size of 125.86 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from May 24 to May 26.

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 Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company Funding capital expenditure requirements for the manufacturing facility (“Proposed Greenfield Project) Funding working capital requirements of the Company General corporate purposes.

HDFC Bank Limited,KOTAK MAHINDRA CAPITAL COMPANY LTD as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 55,818.11, up 436.94 points, or 0.78 per cent.