Amber Enterprises raised Rs 179 crore Wednesday, a day ahead of its IPO. The IPO committee of the firm allocated 20,80,459 equity shares to 15 anchor investors with each share priced at Rs 859 — the upper price band for the offer.
The numbers indicate that the company raised Rs 178.71 crore via anchor investment which includes investors like Abu Dhabi Investment Authority – Behave, Blackrock India Equities Goldman Sachs India and Kuwait Investment Authority Fund 225.
The Gurugram-base firm, which is promoted by Jasbir Singh and Daljit Singh, manufactures refrigeration and cooling systems as well as appliances like air conditioners, water purifiers and washing machines. The IPO opens for public subscription on Thursday and will close on Friday. The price band for the public offering has been fixed at Rs 855-859 a share. The company, overall, plans to raise around Rs 600 crore from the issue which includes fresh issues of shares amounting to Rs 475 crore and sale of scrips of around Rs 125 crore.
Amber Enterprises aims to use the money raised for repayment and advance payment of loans and other corporate as well as operational needs. The IPO is being managed by Edelweiss Financial Services, IDFC Bank, SBI Capital Markets and BNP Paribas will manage the company’s IPO.