Amber Enterprises stock makes impressive debut, rises 45 pc

Shares of Amber Enterprises, an air-conditioner maker, ended with a sharp gain of 45 per cent against the issue price of Rs 859 in its debut trade today.
The stock listed at Rs 1,180, up 37.36 per cent over the issue price on BSE. During the day, the stock zoomed 47 per cent to Rs 1,263. It finally closed at Rs 1,237.25, rising sharply by 44 per cent.
On NSE, shares of the company advanced by 44.96 per cent to close at Rs 1,245.25.
In terms of equity volume, 18 lakh shares of the company were traded on BSE and over 1 crore shares changed hands on NSE during the day.

The company's market valuation stood at Rs 3,890.72 crore.
The Rs 600-crore initial public offering (IPO) of Amber Enterprises was subscribed more than 165 times.

The price band for the IPO was fixed at Rs 855-859 per share.
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 managed the company's IPO.
Gurgaon-based Amber Enterprises manufactures air- conditioners. Besides, it makes refrigerator components, water purifiers and washing machines.