GKP Printing & Packaging Ltd. makes a strong debut on the bourses with scrip got listed at Rs 34.20 on the Bombay Stock Exchange, a 6.87 per cent premium to its issue price of Rs 32.00.

The company, which raised 0.21 Cr from initial public offering, was subscribed 1.46 times, receiving bids for 29.91 lakhs shares against the total issue size of 20.56 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Apr 23 to Apr 26.

Following a strong opening, the scrip touched an intraday high of Rs 35.90 and a low of Rs 33.00, before closing the session up by 9.37 per cent to its listing price at Rs 35.00 on the BSE.

The company anticipates using the proceeds of the issue for • Meeting the Longterm Working capital requirements,• General corporate expenses; and,• Meeting the Issue Expenses.

Holani Consultants Private Limited as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 37,789.13, down 487.50 points, or 1.27 per cent.