IC Electricals Company Ltd. makes a strong debut on the bourses with scrip got listed at Rs 166.00 on the Bombay Stock Exchange, a 67.67 per cent premium to its issue price of Rs 99.00. On the National Stock Exchange, the stock was listed at Rs 166.00.

The company, which raised 0.48 Cr from initial public offering, was subscribed 420.92 times, receiving bids for 20,370.84 lakhs shares against the total issue size of 48.40 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Jul 03 to Jul 07.

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 .

Nexgen Financial Solutions Pvt. Ltd. as lead managers & Skyline Financial Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 23,962.80, up 80.75 points, or 0.33 per cent.