Stove Kraft Ltd. makes a strong debut on the bourses with scrip got listed at Rs 467.00 on the Bombay Stock Exchange, a 21.29 per cent premium to its issue price of Rs 385.00. On the National Stock Exchange, the stock was listed at Rs 498.00.

The company, which raised 1.07 Cr from initial public offering, was subscribed 9.83 times, receiving bids for 1,053.40 lakhs shares against the total issue size of 107.18 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Jan 25 to Jan 28.

Following a strong opening, the scrip touched an intraday high of Rs 495.55 and a low of Rs 435.05, before closing the session up by 15.83 per cent to its listing price at Rs 445.95 on the BSE.

The company anticipates using the proceeds of the issue for Repayment/prepayment, in full or part, of certain borrowings availed by the Company General corporate purposes.

Edelweiss Financial Services Ltd.,JM Financial Ltd. as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 50,731.63, up 117.34 points, or 0.23 per cent.