Amber Enterprises IPO price band has been fixed at Rs 855-859 per share
New Delhi: The initial public offering of Amber Enterprises, the manufacturer of air-conditioners, was subscribed 109.29 times so far on the last day of bidding today. The IPO to raise Rs 600 crore received bids for 53,85,29,077 shares against the total issue size of 49,27,351 shares, data available with the NSE till 1515 hrs showed.
Till yesterday, the IPO was subscribed 3.61 times. The company had raised Rs 179 crore from anchor investors on Tuesday. The price band has been fixed at Rs 855-859 per share. The IPO includes fresh issue of shares worth up to Rs 475 crore and sale of scrips to the tune of Rs 125 crore by promoters Jasbir Singh and Daljit Singh. The company plans to use the proceeds for repayment and advance payment of certain loans and other general corporate purposes. Edelweiss Financial Services, IDFC Bank, SBI Capital
Markets and BNP Paribas are managing the company's IPO. Gurugram-based Amber Enterprises manufactures air- conditioners. Besides, it makes refrigerator components, water purifiers and washing machines.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
