Amba Auto Sales Makes Flat Debut on NSE SME, Lists at ₹134.50

Amba Auto Sales Makes Flat Debut in Indian Stock Market

Amba Auto Sales made a flat debut in the Indian stock market on Tuesday, 5 May, with its share price listing at ₹134.50 on the National Stock Exchange's (NSE) Small and Medium-sized Enterprises (SME) platform. This is in line with market expectations, as the grey market premium (GMP) of the company's initial public offering (IPO) ahead of listing was +0, according to websites tracking the grey market.

IPO Details and Subscription

Amba Auto Sales' ₹65.1 crore IPO was open for subscription from April 27 to April 29, with a price of ₹135 per share. The issue was subscribed 1.19 times overall, with significant support from institutional and non-institutional investors, while retail interest remained relatively weak. The qualified institutional buyers' segment was subscribed 1.75 times, and the non-institutional investors' portion saw a 1.47 times subscription. In contrast, retail investors subscribed only 0.70 times, reflecting cautious sentiment among smaller participants despite the company's improving financials.

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Company Utilization of Funds and Expansion Plans

The IPO comprised entirely a fresh issue of 48.24 lakh shares, enabling the Bengaluru-based firm to raise ₹65.12 crore. The company intends to utilise the IPO proceeds mainly to meet working capital needs, expand its showroom network, and refurbish existing outlets. Of the total funds raised, about ₹43 crore has been allocated for working capital, while ₹6.3 crore is set aside for capital expenditure related to expansion.

Company Overview

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Established in 2005, Amba Auto operates as an authorised dealer for Bajaj Auto Ltd. and LG Electronics India Pvt. Ltd. under the "Amba Bajaj" and "Amba LG Best Shop" brands. Its portfolio includes automobiles and consumer electronics, offering motorcycles, scooters (including Chetak electric models), KTM bikes, three-wheelers, as well as televisions, refrigerators, washing machines, and other household appliances. At present, the company runs 29 showrooms and service centres across Bengaluru and has developed an integrated retail and after-sales network in the city. As of February 2026, Amba Auto had 254 permanent employees, highlighting a notable scale-up in its operations.