Amber Enterprises files Rs 555-cr IPO papers with Sebi

Appliance maker Amber Enterprises has filed preliminary papers with Sebi to raise Rs 555 crore through an initial share-sale offering, according to draft prospectus filed with the markets regulator.
The IPO comprises fresh issue of equity shares worth Rs 450 crore and sale of scrips to the tune of Rs 105 crore by promoters Jasbir Singh and Daljit Singh.
The company plans to use the proceeds for repayment and advance payment of certain loans and for other general corporate purposes.
Edelweiss Financial Services, IDFC Bank, SBI Capital Markets and BNP Paribas will manage the company's initial public offer (IPO).
The Gurugram-based Amber Enterprises manufactures air conditioners.

Last month turned out to be hectic for the IPO markets as half a dozen firms approached Sebi to float initial share-sale offering. This included Prince Pipes and Fittings, HG Infra Engineering, Newgen Software Technologies, Apollo Micro Systems, Lemon Tree Hotels and CMS Info Systems.
During April-September period of the ongoing fiscal, as many as 19 Indian companies raised close to Rs 27,000 crore through IPOs, much higher than Rs 16,535 crore garnered by 15 firms in the year-ago period.
Companies from diverse sectors like insurance, healthcare, education, bank, cable TV and shipping have made their way to the IPO space during the period under review.