QIP by Amber Enterprises - Angel Broking

Mr. Amarjeet Maurya- AVP - Mid Caps, Angel Broking Ltd

"Amber Enterprises India is engaged in the business of Air Conditioners and Its Components. The company has launched QIP on 7 September 20 and floor price is Rs1,798.72 per share (currently trading at Rs1,885 -10:22 am on 8 step 20). In our view, we expect the company will raise Rs300-400cr money for future working and capex requirement which is 5-7% of current share capital. We believe that increasing demand for contract manufacturing in India due to the "Atma Nirbhar Bharat" initiative by the government. This is a positive move by the company to take advantage of the growing opportunity in India."

Shares of Amber Enterprises India Ltd was last trading in BSE at Rs.1849 as compared to the previous close of Rs. 1835.6. The total number of shares traded during the day was 5299 in over 807 trades.

The stock hit an intraday high of Rs. 1881.3 and intraday low of 1821.1. The net turnover during the day was Rs. 9797006.

Source : Equity Bulls

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