Amber Enterprises settles with decent premium on debut

Shares of Amber Enterprises India settled at Rs 1,237.25 on BSE, a premium of 44.03% to its offer price of Rs 859, on its debut on the bourses today, 30 January 2018.

Meanwhile, the S&P BSE Sensex dropped 249.52 points or 0.69% to settle at 36,033.73.

Shares of Amber Enterprises India were listed on the BSE at Rs 1,180, a premium of 37.37% over the issue price. The stock had hit a high of Rs 1,263 and low of Rs 1,114.10 in intraday trade. On the BSE, 18.01 lakh shares were traded on the counter.

Overall, the initial public offer (IPO) of the company had received bids for 81.5 crore shares as against 49.27 lakh shares on offer. The IPO was subscribed 165.42 times. The company had fixed the price band of Rs 855 to Rs 859 per equity share. The IPO was open for subscription from 17 January 2018 to 19 January 2018.

On a consolidated basis, Amber Enterprises India reported net profit of Rs 27.31 crore on net sales of Rs 938.16 crore in half year ended 30 September 2017.

Amber Enterprises India is the leading room air conditioner (RAC) original equipment manufacturer (OEM) and original design manufacturer (ODM).

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