Mumbai, July 23 (PTI): Suryachakra Power Corporation today got listed at Rs 30, with a premium of 50 per cent over its issue price of Rs 20.

Within minutes of listing over 39.87 lakh shares exchanged hands on the Bombay Stock Exchange. The scrip later parted with some gains and was trading at Rs 21.85, at 10 am on BSE.

The company entered the bourses with 7,66,32,960 equity shares at an issue price of Rs 20 each.

Funds raised from the initial public offer would be utilised to part-finance the two 10 MW power plants being set up in Maharashtra by its subsidiary MSM Energy Ltd. These renewable energy (biomass) based power plants would come up in Parbhani and Amravati.

Two more renewable energy-based power plants of 9.8 MW each are being set up in Chhattisgarh by SPCL's other two subsidiaries - Lahari Power and South Asian Agro.