Shares of Amber Enterprises India were trading at Rs 1,172.95 at 10:34 IST on BSE, a premium of 36.55% to its offer price of Rs 859, on its debut on the bourses today, 30 January 2018.
Meanwhile, the S&P BSE Sensex was down 216.56 points, or 0.6% to 36,066.69. The S&P BSE Mid-Cap index was down 114.35 points or 0.65% to 17,595.95, underperforming the Sensex.
Shares of Amber Enterprises India were listed on the bourses at Rs 1,180, a premium of 37.37% over the issue price of Rs 859. The stock had hit a high of Rs 1,183.85 and low of Rs 1,114.10 so far during the day. So far, 6.7 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.
The object of the issue was to repay certain borrowings of Rs 400 crore. The balance funds will be utilized for other corporate purposes apart from the benefits of listing.
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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