Amber Enterprises makes a stellar debut, gains 37% against issue price

Amber Enterprises made a stellar debut on the bourses on Tuesday with the stock listing at Rs 1,180 on the BSE, a 37.36 per cent premium to its issue price of Rs 859.

At 10:30 am, the stock was trading at Rs 1,169, up 36 per cent against its issue price.   

On NSE, the stock got listed at Rs 1,175, up 37 per cent. 

The initial public offering of the company, the manufacturer of air-conditioners, concluded on Friday and was subscribed by a whopping 165 times with the investors bidding for 81.34 crore shares against 49.27 lakh shares reserved for them. 

Qualified institutional investors subscribed 174.99 times of the shares offered to them. High Net Worth Individuals, retail investors, and employees subscribed 519, 11 and 2.27 times respectively of the shares allotted to them.