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SP Refractories Ltd. makes a strong debut on the bourses with scrip got listed at Rs 90.20 on the Bombay Stock Exchange, a 0.22 per cent premium to its issue price of Rs 90.00. On the National Stock Exchange, the stock was listed at Rs 90.20. The company, which raised 0.05 Cr from initial public offering, was subscribed 5.44 times, receiving bids for 29.77 lakhs shares against the total issue size of 5.47 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Mar 09 to Mar 11. Following a strong opening, the scrip touched an intraday high of Rs 91.00 and a low of Rs 88.00, before closing the session up by 0.11 per cent to its listing price at Rs 90.10 on the NSE. The company anticipates using the proceeds of the issue for a) Funding Working Capital Requirementb) General Corporate Purpose. Aryaman Financial Services Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue. Meanwhile, the broader benchmark NSE Nifty closed trade at 17,315.50, up 197.90 points, or 1.15 per cent.