Appliance maker Amber Enterprises has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to float its initial public offering (IPO). The public offer will comprise a fresh issue of equity shares worth Rs 450 crore and sale of scrips to the tune of Rs 105 crore by promoters.
The company, which filed the draft red herring prospectus with the SEBI in September, got the regulator’s approval on December 05, 2017. The company will use the net proceeds for repayment and advance payment of certain loans and for other general corporate purposes. The lead managers for the issue are Edelweiss Financial Services, IDFC Bank, SBI Capital Markets and BNP Paribas.
Amber Enterprises (India), an original equipment manufacturer, manufactures air conditioners and its components for consumer durables. The company offers window and split air conditioners; and electrical motors, sheet metal components, injection molding solutions, plastic extrusions and vacuum forming products, and heat exchangers for various applications, including refrigerators, washing machines, coolers, auto mobiles, etc.
Company Name | CMP |
---|---|
Voltas | 1395.90 |
Blue Star | 1525.40 |
Amber Enterprises | 3565.00 |
Johnson Controls | 1660.15 |
EPACK Durable | 188.50 |
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