January 30, 2018 / 5:00 AM / a year ago

BUZZ-India's Amber Enterprises zooms on market debut after $94 mln IPO

** Shares of Amber Enterprises India Ltd rise as much as 37 pct to 1,175 rupees on its trading debut vs IPO price of 859 rupees

** The company’s 6 billion-rupee ($94.2 million) IPO was subscribed more than 165 times

** Amber is a market leader among room air conditioner outsourced manufacturers with a market share of more than 55 pct and serves clients including LG, Daikin, Hitachi and Whirlpool, according to a pre-IPO note from Angel Broking

** Amber’s was the third listing of 2018 in the Indian markets after a record IPO fundraising of $11 bln last year ($1 = 63.6650 Indian rupees)

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