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Our Bureau

Mumbai , Dec 28

The stock of XL Telecom Ltd made its debut at Rs 177.10 on the BSE on Thursday at a premium of 18.06 per cent to the issue price of Rs 150. The stock fell to an intra-day low of Rs 134.10 and closed at Rs 136. A total of 34.52 lakh shares were traded on the BSE.

The stock debuted at a premium of 10 per cent on the NSE at Rs 165. It touched an intra-day high of Rs 174.90, a low of Rs 133.30 and settled at Rs 135.35. A total of 42,99,475 shares were traded.

The company had entered the capital market with an IPO of 39,56,808 equity shares of Rs 10 each.

The company proposed to raise Rs 60 crore for expanding the module making capacity of solar photovoltaic division (around Rs 8 crore), setting up facilities for surface mounting technology lines to produce motherboards used in mobile phones (Rs 20.5 crore), repayment of term loans (Rs 9 crore) and to fund the long-term working capital requirement for fixed wireless phone business (Rs 20 crore).

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