Amba Auto Sales & Services IPO Sees 11% Subscription on Day 1: Preliminary GMP, Price Band, and Key Details

Amba Auto Sales & Services Launches ₹65 Crore IPO

Amba Auto Sales & Services, a Bengaluru-based dealer for Bajaj Auto and LG Electronics, has launched its initial public offering (IPO) to raise ₹65 crore. The SME IPO opened for bidding on 27 April and will remain open till Wednesday, 29 April. The offer is entirely a fresh issue of 0.48 crore shares, meaning that all proceeds will be received by the company.

The price band for Amba Auto Sales & Services IPO has been set at ₹130 to ₹135 per share. Retail investors need to apply for at least two lots of 1,000 shares each, resulting in a minimum payout of ₹1,35,000 at the upper end of the price band. The company plans to use the IPO proceeds for funding capex towards setting up new stores and renovating existing ones, along with meeting working capital needs and general corporate purposes.

Investors can expect the allotment of Amba Auto Sales & Services IPO to take place on Thursday, 30 April, while the shares are set to be credited to the demat account of allottees on Monday, 4 May, with the refund to those who did not receive allotment on the same day. The listing of Amba Auto Sales & Services IPO shares will take place on Tuesday, 5 May, on the NSE SME platform.

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Amba Auto Sales & Services IPO Subscription

As of 3.08 pm, Amba Auto Sales & Services IPO was subscribed just 10.8 times, garnering bids for 4,98,000 shares as against 45,82,000 shares on offer. The retail quote was subscribed 8%, and the non-institutional investor portion received 15% subscription. The qualified institutional buyer (QIB) segment did not see any bids yet.

Amba Auto Sales & Services IPO GMP

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The grey market premium (GMP) for Amba Auto Sales & Services IPO is nil so far. This means that shares of Amba Auto Sales & Services are trading at par with the offer price. At the prevailing GMP, Amba Auto Sales & Services shares could list at the same price as the offer price.

About Amba Auto Sales & Services

Amba Auto Sales & Services is a Bengaluru-based authorised dealer for Bajaj Auto and LG Electronics. It operates 29 outlets under the brands Amba Bajaj and Amba LG Best Shop. The company has two business segments: the Automobile Segment, which includes sales and servicing of Bajaj motorcycles, Chetak EVs, KTM bikes, and three-wheelers, and the Electronics Segment, which includes retail of LG consumer durables, including TVs, ACs, refrigerators, and washing machines.