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Bajaj Auto Dealer Launches ₹65 Crore IPO
27 Apr
Summary
- Amba Auto Sales & Services IPO opened on April 27.
- The IPO aims to raise ₹65 crore through a fresh issue.
- Minimum investment for retail investors is ₹135,000.
Amba Auto Sales & Services initiated its Initial Public Offering (IPO) on April 27, seeking to raise ₹65 crore. This fundraising effort is structured as a completely fresh issue of shares, meaning all capital raised will directly benefit the company. The IPO is scheduled to conclude its bidding process on April 29.
The offering's price band is established between ₹130 and ₹135 per share. For retail investors, the minimum application involves purchasing two lots, each containing 1,000 shares, which translates to a minimum investment of ₹135,000 at the upper price limit.
Funds generated from this IPO are earmarked for capital expenditures, including the establishment of new retail outlets and the renovation of existing ones. Additionally, the company intends to allocate capital towards meeting its working capital requirements and for general corporate purposes.
Share allotment for the Amba Auto Sales & Services IPO is anticipated on April 30. Allotment confirmations will be reflected in demat accounts by May 4, with refunds processed the same day for unsuccessful applicants. The shares are slated to commence trading on the NSE SME platform on May 5.
