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Arihant Academy Ltd. makes a strong debut on the bourses with scrip got listed at Rs 120.10 on the Bombay Stock Exchange, a 33.44 per cent premium to its issue price of Rs 90.00. On the National Stock Exchange, the stock was listed at Rs 120.10. The company, which raised 0.16 Cr from initial public offering, was subscribed 236.07 times, receiving bids for 3,860.22 lakhs shares against the total issue size of 16.35 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Dec 16 to Dec 21. 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 . Shreni Shares Pvt. Ltd. as lead managers & Bigshare Services Private Limited. is the registrar, to the issue. Meanwhile, the broader benchmark NSE Nifty closed trade at 18,122.50, down 9.80 points, or 0.05 per cent.