The simultaneous issue from Amber Enterprises India Limited received excellent response and was subscribed over 165 times. The company had tapped the capital markets with its issue to raise Rs 600 crs in a price band of Rs 855 to 859. The issue comprised of a fresh offer for Rs 475 crs and an offer for sale of Rs 125 crs. Earlier it had allotted 20,80,459 equity shares to 15 anchor investors comprising of 20 entities. The highest allocation was made to Abu Dhabi Investment Authority of 1,96,911 equity shares or 9.46% of the anchor allocation.

The QIB portion was subscribed 175 times while HNI was subscribed 519.26 times. Retail portion was subscribed 11.65 times. Employee portion was subscribed 2.27 times. There were 14.55 lakh applications which means the retail portion in terms of lots was subscribed 10.19 times.

Amber is a contract manufacturer for AC’s and white goods and has come on the back of the success of Dixon Technologies Limited. The issue was offered at a PE multiple of 61.91 to 62.20 times based on its March 2017 results.

The cost of funding for the leveraged investor would make his cost between Rs 420-460 depending on the rate of interest that he has contracted the loan at. Interest rates varied between 5 and 5.5%.

The full details of subscription are given below: –