Jan 30: Amber Enterprises India Ltd (BSE: 540902) had a promising debut on Bombay Stock Exchange on Tuesday registering an increase of 5% on listing at Rs 1240 in morning trade. The stock was listed on BSE at Rs 1180.
Amber Enterprises, a prominent solutions provider in the refrigeration and air-conditioning (RAC) segment in India with a large client base. It was listed 37% higher to its issue price of Rs 878. It may be recalled that Amber hat a very successful IPO, registering a subscription of 165 times. It had sought to raise Rs 600 cr through the issue, which opened on January 17 with a price band of Rs 855-859 a piece.
The air conditioner manufacturer’s IPO had received bids for 81.47 crore shares against an issue size of 49 .27 lakh. The company said that it plans to use the proceeds for repayment and advance payment of certain loans and other general corporate purposes.