Infinity Infoway Ltd. makes a strong debut on the bourses with scrip got listed at Rs 294.50 on the Bombay Stock Exchange, a 90.00 per cent premium to its issue price of Rs 155.00.

The company, which raised 0.16 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 15.75 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 30 to Oct 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 Development of Proprietary Technology Solution called “ZEROTOUCH DaaS (Device as a Service) (“Proposed Project) Purchase of new IT Infrastructure and Certification Funding of Tender Deposits and Earnest Money Deposits (EMD) towards Tenders Funding the incremental Working Capital Requirements of the Company To meet general corporate expenses.

Holani Consultants Private Limited as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 81,926.75, up 136.63 points, or 0.16 per cent.