The scrip of Power Trading Corporation Ltd was listed on the Bombay Stock Exchange on Wednesday and the first trade was struck at Rs 32 for 100 shares.

In early March, the company visited the capital market with initial public offering of 5.84 crore (58.4 million) shares. The issue received bids 47 times the offer size.

The price band for the 100 per cent book-built issue was Rs 14-16 per share. After closure of the bidding, the offer price was fixed at Rs 16 per share.

The lead managers to the IPO were SBI Capital Markets Ltd and Enam Financial Consultants.

Listing of the power trading company was earlier postponed twice as the registrar to the issue could not complete the allotment of shares, the merchant banking sources said.