BackAmber Enterprises IPO subscribed 3.63 times on Day 2
The portion of shares reserved for institutional investors in the Amber Enterprises IPO was subscribed 6.06 times
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Mumbai: The Rs600 crore IPO of Amber Enterprises India Ltd, a manufacturer of air conditioners, was subscribed 3.63 times on the second day of the offering.
The portion of shares reserved for institutional investors in the Amber Enterprises share sale was subscribed 6.06 times, while those set aside for non-institutional and retail investors were subscribed 0.49 times and 3.62 times, respectively.
Amber has set a price band of Rs855-859 per share for the IPO. The offer will close on 19 January.
The Amber IPO comprises a fresh issue of shares of Rs475 crore and an offer for sale of shares by promoters of the company Jasbir Singh and Daljit Singh.
Amber will utilize the proceeds from the fresh issue for repayment of debt.
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