Shubhlaxmi Jewel Art Ltd. makes a strong debut on the bourses with scrip got listed at Rs 27.10 on the Bombay Stock Exchange, a 4.23 per cent premium to its issue price of Rs 26.00. On the National Stock Exchange, the stock was listed at Rs 27.10.

The company, which raised 0.25 Cr from initial public offering, was subscribed 3.79 times, receiving bids for 94.90 lakhs shares against the total issue size of 25.04 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Nov 22 to Nov 27.

Following a strong opening, the scrip touched an intraday high of Rs 27.80 and a low of Rs 27.10, before closing the session up by 4.61 per cent to its listing price at Rs 27.20 on the NSE.

The company anticipates using the proceeds of the issue for Funding the working capital requirements of the Company; and, General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead managers & LINK INTIME INDIA PRIVATE LIMITED is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 10,869.50, down 14.25 points, or 0.13 per cent.