Rachana Infrastructure Ltd. makes a strong debut on the bourses with scrip got listed at Rs 138.00 on the Bombay Stock Exchange, a 2.22 per cent premium to its issue price of Rs 135.00. On the National Stock Exchange, the stock was listed at Rs 138.00.

The company, which raised 0.57 Cr from initial public offering, was subscribed 1.15 times, receiving bids for 64.98 lakhs shares against the total issue size of 56.50 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from May 20 to Jun 02.

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 NSE.

The company anticipates using the proceeds of the issue for Repayment of Secured Loans Working capital requirement General Corporate Purpose, Meeting Public Issue Expenses.

Interactive Financial Services Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 16,478.10, up 121.85 points, or 0.74 per cent.