Marco Cables & Conductors Ltd. makes a strong debut on the bourses with scrip got listed at Rs 38.70 on the Bombay Stock Exchange, a 7.50 per cent premium to its issue price of Rs 36.00. On the National Stock Exchange, the stock was listed at Rs 38.70.

The company, which raised 0.52 Cr from initial public offering, was subscribed 29.50 times, receiving bids for 1,534.59 lakhs shares against the total issue size of 52.02 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Sep 21 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 NSE.

The company anticipates using the proceeds of the issue for (i) Solar Power System and (ii) + Rigid Stranding Machine Funding Incremental Working Capital Requirements General corporate purposes.

Shreni Shares Ltd. as lead managers & Bigshare Services Private Limited. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 19,716.45, up 51.75 points, or 0.26 per cent.