Adroit Industries (India) Ltd. makes a strong debut on the bourses with scrip got listed at Rs 250.00 on the Bombay Stock Exchange, a 86.56 per cent premium to its issue price of Rs 134.00. On the National Stock Exchange, the stock was listed at Rs 235.00.

The company, which raised 1.12 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 112.47 lakhs shares.

The company, listed under T Group Securities post its IPO, opened for subscription from Sep 23 to Sep 25.

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 Funding capital expenditure by the Company towards procurement Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of equity, for funding capital expenditure towards procurement Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of equity, for repayment or prepayment, in full or in part, of certain borrowings availed by the Subsidiary General Corporate Purposes.

Choice Capital Advisors Pvt. Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 72,529.07, down 242.65 points, or 0.33 per cent.