Amber Enterprises IPO subscribed 109 times so far on last day

The price band for the Amber Enterprises IPO has been fixed at Rs855-859 per share. Photo: iStockphoto

The price band for the Amber Enterprises IPO has been fixed at Rs855-859 per share. Photo: iStockphoto

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 on Friday.

The IPO to raise Rs600 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 Rs179 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 Rs475 crore and sale of scrips to the tune of Rs125 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. PTI SUM SBT

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