The scrip opened at Rs 701.10, touched a high of Rs 813.75 and 18,141 shares changed hands on the bourse within minutes of listing.
Similarly, on the National Stock Exchange the scrip opened at Rs 790 and over 1.83 lakh shares got traded.
The scrip was later trading at Rs 727 on the BSE and at Rs 735 on the NSE at 10 am.
The company, which manufactures transformers, got listed with 1,29,23,611 equity shares at an issue price of Rs 465 per share.
TRIL would utilise the proceeds of the issue to finance its greenfield manufacturing facility at Moraiya, near Ahmedabad, having a capacity to manufacture transformers of above 66 kV class.
It would also part-finance incremental working capital requirements.