Evans Electric Ltd. makes a strong debut on the bourses with scrip got listed at Rs 52.20 on the Bombay Stock Exchange, a 0.38 per cent premium to its issue price of Rs 52.00.

The company, which raised 0.04 Cr from initial public offering, was subscribed 1.35 times, receiving bids for 5.02 lakhs shares against the total issue size of 3.72 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Apr 30 to May 03.

Following a strong opening, the scrip touched an intraday high of Rs 54.80 and a low of Rs 52.20, before closing the session up by 5.38 per cent to its listing price at Rs 54.80 on the BSE.

The company anticipates using the proceeds of the issue for • To Meet Working Capital Requirements,• General Corporate purpose and,• To Meet the Issue Expenses.

HEM SECURITIES LTD. as lead managers & Bigshare Services Pvt Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 37,318.53, up 227.71 points, or 0.61 per cent.