Rapid Fleet Management Services Ltd. makes a strong debut on the bourses with scrip got listed at Rs 195.00 on the Bombay Stock Exchange, a 1.56 per cent premium to its issue price of Rs 192.00. On the National Stock Exchange, the stock was listed at Rs 195.00.

The company, which raised 0.23 Cr from initial public offering, was subscribed 1.42 times, receiving bids for 32.44 lakhs shares against the total issue size of 22.85 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Mar 21 to Mar 25.

Following a strong opening, the scrip touched an intraday high of Rs 203.75 and a low of Rs 195.00, before closing the session up by 4.63 per cent to its listing price at Rs 200.90 on the NSE.

The company anticipates using the proceeds of the issue for .

Gretex Corporate Services Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 23,519.35, down 72.60 points, or 0.30 per cent.