EverestIMS Technologies Ltd. makes a strong debut on the bourses with scrip got listed at Rs 121.90 on the Bombay Stock Exchange, a 43.41 per cent premium to its issue price of Rs 85.00.

The company, which raised 0.57 Cr from initial public offering, was subscribed 273.40 times, receiving bids for 15,585.99 lakhs shares against the total issue size of 57.01 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 29 to Oct 05.

Following a strong opening, the scrip touched an intraday high of Rs 126.97 and a low of Rs 119.70, before closing the session up by 40.82 per cent to its listing price at Rs 119.70 on the BSE.

The company anticipates using the proceeds of the issue for ) Purchase of IT hardware for setting up of Artificial Intelligence (AI) Innovation and Experience Laboratory) Funding of Working Capital Requirement) General corporate purposes.

Oneview Corporate Advisors Pvt. Ltd. as lead managers & Maashitla Securities Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 71,593.24, down 1,045.46 points, or 1.43 per cent.