India: Amber Enterprises raises $28m from anchor investors ahead of IPO

Photo: Mint

Amber Enterprises India Ltd, a manufacturer of air conditioners, on Tuesday said it has raised around Rs178.71 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens.

Shares were allocated to 15 investors at Rs859 apiece, the upper end of the price band of Rs855-859 for the Amber IPO. Institutional investors that participated in the anchor book allocation include Abu Dhabi Investment Authority, Goldman Sachs India Ltd, Blackrock India Equities Mauritius Ltd, Kuwait Investment Authority Fund, Reliance Capital Trustee Co Ltd and Aditya Birla Sun Life Trustee Pvt. Ltd, among others.

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