Spinaroo Commercial Ltd. makes a strong debut on the bourses with scrip got listed at Rs 52.85 on the Bombay Stock Exchange, a 3.62 per cent premium to its issue price of Rs 51.00.

The company, which raised 0.20 Cr from initial public offering, was subscribed 1.48 times, receiving bids for 29.51 lakhs shares against the total issue size of 19.94 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Mar 28 to Apr 03.

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 .

Finshore Management Services Ltd. as lead managers & Cameo Corporate Services Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 73,137.90, down 2,226.79 points, or 2.95 per cent.