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The shares of Amber Enterprises soared 44 per cent during their stock market debut on Tuesday. The stock closed at Rs 1,235.4, up Rs 376, or 44 per cent over its issue price of Rs 859. The stellar debut follows huge response to the company’s IPO.
The Rs 6-billion offering had seen 165 times more demand than the shares on offer. Amber’s stock touched a high of Rs 1,269 and a low of Rs 1,115 on the NSE. Amber is an original equipment manufacturer of air conditioner components. The company’s key clients include Daikin, Hitachi, LG, Panasonic, Voltas and Whirlpool.