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Business News/ Market / Stock-market-news/  Amber Enterprises IPO: Rs178.71 crore raised from anchor investors
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Amber Enterprises IPO: Rs178.71 crore raised from anchor investors

Shares were allocated to 15 investors at Rs859 apiece, the upper end of the price band of Rs855-859 for the Amber Enterprises IPO

Amber Enterprises India Ltd’S Rs600 crore IPO will open on 17 January and close on 19 January.Premium
Amber Enterprises India Ltd’S Rs600 crore IPO will open on 17 January and close on 19 January.

Mumbai: Amber Enterprises India Ltd, a manufacturer of air conditioners, on Tuesday said it has raised around Rs178.71 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.

Shares were allocated to 15 investors at Rs859 apiece, the upper end of the price band of Rs855-859 for the Amber IPO. Institutional investors that participated in the anchor book allocation include Abu Dhabi Investment Authority, Goldman Sachs India Ltd, Blackrock India Equities Mauritius Ltd, Kuwait Investment Authority Fund, Reliance Capital Trustee Co Ltd and Aditya Birla Sun Life Trustee Pvt. Ltd, among others.

The Rs600 crore IPO will open on 17 January and 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.

The company will utilize the proceeds from the fresh issue for repayment of debt.

Edelweiss Financial Services Ltd, IDFC Bank Ltd, SBI Capital Markets Ltd and BNP Paribas are managing the Amber IPO.

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Published: 17 Jan 2018, 12:03 AM IST
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