Amber Enterprises India Limited is engaged in manufacturing of air conditioners and its component in India. It is Punjab based company. This company is a market leader in the Room Air Conditioner OEM/ODM industry in India with a market share of 55.4% in terms of volume in Fiscal 2017. The company has applied to SEBI for listing their shares on the exchanges through IPO. This post will take you through the Amber Enterprises India Limited IPO review based on the draft prospectus and will also check the issue date, issue price and grey market premium.
About Amber Enterprises India Limited IPO :
- IPO Opens on – January 17 2018
- IPO Closes on – January 19 2018
- Face Value – Rs 10 Per Equity Share.
- Issue Price – Rs 855 – Rs 859 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Retail Allocation – 35%
- Market Lot – 17 equity shares.
- Minimum Order Quantity – Nil.
- Issue Size – [.] Equity Shares of Rs 10 aggregating up to Rs 555.00 Cr.
- Fresh issue – [.] Equity Shares of Rs 10 aggregating up to Rs 450.00 Cr.
- Offer For Sale – [.] Equity Shares of Rs 10 aggregating up to Rs 105.00 Cr.
- Listing Exchange – BSE, NSE.
- Draft Prospectus – Download.
Objectives of the issue:
- The Offer for Sale –
The Selling Shareholders will be entitled to the proceeds of the Offer for Sale of their respective portion of the Equity Shares and this company will not receive any proceeds from the Offer for Sale.
- Fresh Issue –
a. Prepayment or repayment of all or a portion of certain borrowings availed by the Company.
b. General corporate purposes.
About The Company –
- Amber Enterprises India Limited is incorporated in 1990.
- Amber Enterprises Products like :
- Room Air Conditioners (RACs) – This is includes window air conditioners and indoor units and outdoor units of split air conditioners.
- RAC Components – Critical and reliability functional components of RACs such as heat exchangers, motors and multi-flow condensers.
- Other Components – Other related components including case liners for refrigerator, plastic extrusion sheets for consumer durables and automobile industry, sheet metal components for microwave, washing machine tub assemblies and for automobiles and metal ceiling industries.
- This company has 10 manufacturing facilities across seven locations in India.
- Amber Enterprises India Limited is a one-stop solutions provider for the major brands in the RAC industry and currently serves eight out of the 10 top RAC brands in India.
Promoters of the company :
- Jasbir Singh, aged 42 years, is the promoter of this company.
- Daljit Singh, aged 39 years, is the promoter of this company.
Amber Enterprises India Limited IPO Review: The company has a more or less steady financial record in terms of profitability. The issue is fully priced. The company is also attracting huge grey market interest with a grey market premium or GMP of Rs. 500-510. Our last day allocation data analysis reveals huge QIB interest too in the issue. Hence, we expect good listing gains. Our Amber Enterprises India Limited IPO Review is POSITIVE on this issue. Apply for listing gains, as well as a medium term to long-term view.