Published on 17/01/2018 11:23:24 AM | Source: Dion Global Solutions Ltd

Amber Enterprises garners Rs 179 cr from anchor investors

Posted in IPO Top News| #IPO #Amber Enterprises India Ltd

Amber Enterprises raised Rs 179 crore from anchor investors ahead of its initial share- sale today, reported PTI. The company's IPO committee has finalised allocation of 20,80,459 equity shares to 15 anchor investors at Rs 859 apiece, also the upper price band for the offer, Amber Enterprises informed the stock exchanges.

At this price, the total amount works out to be Rs 178.71 crore, it added. Among the anchor investors are Abu Dhabi Investment Authority - Behave, Blackrock India Equities Mauritius, Goldman Sachs India and Kuwait Investment Authority Fund 225. The Gurugram-based Amber Enterprises manufactures air- conditioners. Besides, it makes refrigerator components, water purifiers and washing machines.

Amber Enterprises' initial public offer (IPO) will open for public subscription tomorrow and close on January 19. The price band has been fixed at Rs 855-859 per share. The IPO is aiming to raise Rs 600 crore. This includes fresh issue of shares worth up to Rs 475 crore and sale of scrips to the tune of Rs 125 crore by promoters Jasbir Singh and Daljit Singh. 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 will manage the company's IPO.