Madhusudan Masala Ltd. makes a strong debut on the bourses with scrip got listed at Rs 120.00 on the Bombay Stock Exchange, a 71.42 per cent premium to its issue price of Rs 70.00. On the National Stock Exchange, the stock was listed at Rs 120.00.

The company, which raised 0.34 Cr from initial public offering, was subscribed 413.40 times, receiving bids for 14,055.52 lakhs shares against the total issue size of 34.00 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Sep 18 to Sep 21.

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 .

Hem Securities Ltd as lead managers & KFin Technologies Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 19,674.55, down 0.30 points, or 0.00 per cent.