C Mahendra Exports got listed on the Bombay Stock Exchange (BSE) today at the rate of Rs 111, marginally up 0.90% over its issue rate.

Within few minutes, the stock of diamond jewelry manufacturer hit a high of Rs 120.90 on the Bombay Stock Exchange, up 9.9% as against the issue rate of Rs 110 per share.

C Mahendra Exports had a fairly better entry on the National Stock Exchange, with the scrip debuting at Rs 114, showing a premium of 3.63% as against its issue rate.

The company had valued its IPO at Rs 110 a share, the top end of the Rs 95-110 price band.

The initial public offering got subscribed 2.78 times on the concluding day of the issue.

The company lifted up around Rs 165 crore via its initial public offering, a fraction of which it proposes to utilize to establish a diamond processing facility in the state of Gujarat and a jewellery making plant in Mumbai.

In the meantime, the BSE Sensex was ruling 114.19 points down at 18,864.13.