Belrise Industries Ltd. makes a strong debut on the bourses with scrip got listed at Rs 98.50 on the Bombay Stock Exchange, a 9.44 per cent premium to its issue price of Rs 90.00. On the National Stock Exchange, the stock was listed at Rs 0.00.

The company, which raised 23.89 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 2,388.89 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from May 21 to May 23.

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 .

Axis Capital Ltd.,HSBC Securities and Capital Markets (India) Privat,SBI Capital Markets Ltd.,Jefferies India Pvt. Ltd. as lead managers & MUFG Intime India Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 81,551.63, down 624.82 points, or 0.76 per cent.