Veegaland Developers shares made a decent market debut on Friday, following a 13.55 times subscription to its initial public offering (IPO) in the primary market between September 10 - 15.

Shares of Veegaland Developers were listed at Rs 154 per share on the NSE, a premium of 10 percent. The Rs 210-crore issue had a price band of Rs 130-140 per share.

On the BSE, the shares of the real estate developer were listed at Rs 151 per share. The company's market capitalisation post listing of shares stood at Rs 736.13 cr.

Veegaland Developers market debut was better than expectations in the grey market, which had anticipated a listing gain of 3-6 percent.

Earlier, it raised Rs 63 crore from anchor investors.

Proceeds from the issue will be used to partly fund the company's ongoing projects, for unidentified land acquisition, and general corporate purposes.