Tipco Engineering India Ltd. makes a strong debut on the bourses with scrip got listed at Rs 89.25 on the Bombay Stock Exchange, a 0.28 per cent premium to its issue price of Rs 89.00.

The company, which raised 0.68 Cr from initial public offering, was subscribed 1.56 times, receiving bids for 106.13 lakhs shares against the total issue size of 68.03 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Mar 23 to Mar 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 BSE.

The company anticipates using the proceeds of the issue for .

Smart Horizon Capital Advisors Pvt. Ltd. as lead managers & Maashitla Securities Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 71,947.55, down 1,635.67 points, or 2.22 per cent.