Home / Market / Stock-market-news /  Amber Enterprises files for Rs555 crore IPO

New Delhi: Appliance maker Amber Enterprises Pvt. Ltd has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise Rs555 crore through an initial public offering (IPO), according to draft prospectus filed with the markets regulator.

The IPO comprises fresh issue of equity shares worth Rs450 crore and sale of scrips to the tune of Rs105 crore by promoters Jasbir Singh and Daljit Singh.

The company plans to use the proceeds for repayment and advance payment of certain loans and for other general corporate purposes. Edelweiss Financial Services, IDFC Bank, SBI Capital Markets and BNP Paribas will manage the company’s IPO.

The Gurugram-based Amber Enterprises manufactures air conditioners.

Last month turned out to be hectic for the IPO markets as half a dozen firms approached Sebi to float initial share-sale offering. This included Prince Pipes and Fittings, HG Infra Engineering, Newgen Software Technologies, Apollo Micro Systems, Lemon Tree Hotels and CMS Info Systems.

During April-September period of the ongoing fiscal, as many as 19 Indian companies raised close to Rs27,000 crore through IPOs, much higher than Rs16,535 crore garnered by 15 firms in the year-ago period.

Companies from diverse sectors like insurance, healthcare, education, bank, cable TV and shipping have made their way to the IPO space during the period under review.

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