The IPO of Amber Enterprises after receiving good response made its debut on the stock exchanges at a premium of 37% to the issue price of Rs. 859. The stock listed at Rs. 1175 on the NSE. On the BSE, the stock listed at Rs. 1180 with gains to the tunes of 37.37% over the issue price.
Strong fundamentals and holding a leadership position as an OEM supplier to the AC industry, the issue was subscribed fully on first bidding day. The oversubscription to the issue of AC equipment manufacturer touched 165 times with total bids for as many as 81.47 crore equity shares as against the issue of 49.27 lakh equity shares.
The Rs. 600 crore IPO issue aims at paring most of the company's debt and also for some of the general corporate purposes.
At 10:47 am the stock of the company was trading higher by 38% at Rs. 1187 on the BSE.