Shiprocket Ltd. makes a strong debut on the bourses with scrip got listed at Rs 129.50 on the Bombay Stock Exchange, a 33.50 per cent premium to its issue price of Rs 97.00. On the National Stock Exchange, the stock was listed at Rs 131.00.

The company, which raised 16.68 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 1,667.51 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Aug 12 to Aug 14.

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 (a) investment in marketing initiatives primarily for our Emerging Business and for our Core Business(b) investment in technology infrastructure and capabilities primarily for our Emerging Business and for our Core Business Repayment / prepayment, in full or in part, of certain borrowings availed of by our Company including payment of the interest accrued thereon Funding inorganic growth through unidentified acquisitions and general corporate purposes.

Kotak Mahindra Capital Company Ltd.,Axis Capital Ltd.,JM Financial Ltd.,BofA Securities India Limited as lead managers & is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 77,235.46, down 492.70 points, or 0.63 per cent.