Appliance maker Amber Enterprises is coming out with an initial public offering (IPO) to raise Rs 600 crore in a price band Rs 855- 859 per equity share. The issue will open on January 17, 2018 and will close on January 19, 2018. The company's shares are proposed to be listed on the BSE and NSE.
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.