Amber Enterprises shares opened 37.37% higher on the BSE at Rs1,180 apiece, compared to the issue price of Rs859, which was the upper end of the price band of Rs855-859 per share. Photo: MintMumbai: Shares of Amber Enterprises India Ltd on Tuesday surged over 37% on debut on the bourses, after its initial public offer (IPO) was subscribed more than 165 times last week. The stock opened 37.37% higher on the BSE at Rs1,180 apiece, compared to the issue price of Rs859, which was the upper end of the price band of Rs855-859 per share. The IPO comprised 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. In financial year 2016-17, Amber posted a revenue of Rs1,652.2 crore, up from Rs1,092.1 crore in the previous year.

Source: Mint January 30, 2018 05:03 UTC