<article>Amber Enterprises India Ltd, a manufacturer of air-conditioners, on Wednesday said it will launch a Rs600 crore initial public offering (IPO) on 17 January.</article>

Amber Enterprises India Ltd, a manufacturer of air-conditioners, on Wednesday said it will launch a Rs600 crore initial public offering (IPO) on 17 January.
Amber, which manufactures room air-conditioners and their components for leading consumer durable brands, has priced its shares in a range of Rs855-859 per share. The offering closes on 19 January.
The initial share sale of Amber comprises a fresh issue of shares of Rs475 crore and an offer for sale of shares by promoters of the company Jasbir Singh and Daljit Singh.
Proceeds from the fresh issue of shares will be used by the company for repayment of debt.
Investment banks Edelweiss Financial Services Ltd, IDFC Bank Ltd, SBI Capital Markets Ltd and BNP Paribas are managing the share sale.
Amber serves customers such as Daikin Industries Ltd, Hitachi Ltd, LG Electronics Inc., Panasonic Corp., Voltas Ltd and Whirlpool Corp.
The company can design and manufacture complete room air-conditioners including window air-conditioners and indoor units and outdoor units of split air conditioners with specifications ranging from 0.75 tonnes to 2 tonnes, across energy ratings and types of refrigerants.
Amber also manufactures components such as heat exchangers, motors, inverter and non-inverter printed circuit boards and multi-flow condensers, sheet metal components, copper tubing and injection moldings.
In the financial year 2016-17, Amber posted revenue of Rs1,652.2 crore, up from Rs1,092.1 crore in the previous year.
It earned a profit of Rs27.8 crore, up from Rs24.1 crore in the previous year.
Amber’s initial share sale will be the third IPO this year.
On Tuesday, software products company Newgen Software Technologies Ltd said it will launch its Rs400 crore IPO on 16 January.
On Wednesday, Apollo Micro Systems Ltd, a Hyderabad-based company catering to the defence sector, launched its initial share sale to raise Rs156 crore.
<h4>This article was first published on <a href="http://www.livemint.com/Money/O5onCvxLhqf5YeRbKT27WK/Amber-Enterprises-to-launch-Rs600-crore-IPO-on-17-January.html">Livemint.com</a></h4>

Amber Enterprises India Ltd, a manufacturer of air-conditioners, on Wednesday said it will launch a Rs600 crore initial public offering (IPO) on 17 January.

India: Amber Enterprises to launch $94m IPO on January 17

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