Aishwarya Telecom Limited has listed at Rs 50.10, at a premium of Rs 43.14 per cent over its issue price of Rs 35 on the Bombay Stock Exchange on Wednesday.

Aishwarya Telecom, engaged in manufacturing fibre optic test equipments and cable fault locators, had raised around Rs 14 crore through its initial public offer. Its clients include BSNL, Tata Tele Services and Bharati Telenet. It also exports cable fault locators to France, Taiwan, Czech Republic and Dubai.

The company plans to use the proceeds to increase its manufacturing capabilities and infrastructure, and to fund research projects.

SREI Capital Markets and Sobhagya Capital Options were the lead managers to the issue.

Shares of the company were last trading up Rs 50, at Rs 85. The total volume of shares traded at the BSE was 38823915. (12.45 a. m., Wednesday)