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Amber Enterprises initial public offering (IPO) opens for subscription today i.e January 17 and the issue will close on January 19. The company has fixed the price band of Rs.855-859 per share.
The IPO comprises a fresh issue of equity shares aggregating up to Rs.475 crore and an offer for sale of up to Rs.125 crore, by promoters Jasbir Singh aggregating up to Rs 62.5 crore and Daljit Singh up to Rs 62.5 crore.
Net proceeds from the issue will be used by the company for prepayment or repayment of all or a partition of certain borrowings and for general corporate purposes. Further, bids can be made for minimum 17 equity shares and in multiples of 17 shares thereafter.
