Swashthik Plascon Ltd. makes a strong debut on the bourses with scrip got listed at Rs 120.10 on the Bombay Stock Exchange, a 39.65 per cent premium to its issue price of Rs 86.00.

The company, which raised 0.47 Cr from initial public offering, was subscribed 14.59 times, receiving bids for 691.44 lakhs shares against the total issue size of 47.39 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Nov 24 to Nov 29.

Following a strong opening, the scrip touched an intraday high of Rs 126.10 and a low of Rs 115.25, before closing the session up by 46.62 per cent to its listing price at Rs 126.10 on the BSE.

The company anticipates using the proceeds of the issue for .

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

Meanwhile, the broader benchmark BSE Sensex closed trade at 69,296.14, up 431.02 points, or 0.62 per cent.