SBI Funds Management Ltd. makes a strong debut on the bourses with scrip got listed at Rs 610.00 on the Bombay Stock Exchange, a 6.27 per cent premium to its issue price of Rs 574.00. On the National Stock Exchange, the stock was listed at Rs 613.30.

The company, which raised 20.37 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 2,037.09 lakhs shares.

The company, listed under A Group Securities post its IPO, opened for subscription from Jul 14 to Jul 16.

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 BSE.

The company anticipates using the proceeds of the issue for .

ICICI SECURITIES LTD,HSBC Securities and Capital Markets (India) Privat,Kotak Mahindra Capital Company Limited,Motilal Oswal Investment Advisors Limited,JM Financial Ltd.,BofA Securities India Limited,Axis Capital Ltd.,SBI Capital Markets Ltd.,Jefferies India Pvt. Ltd. as lead managers & KFin Technologies Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 77,708.52, down 442.93 points, or 0.56 per cent.