Amba Auto Sales and Services IPO Day 1: Check subscription status, price band, lot size and key dates

Amba Auto Sales and Services IPO: The initial public offering of Amba Auto Sales and Services, an authorised dealer of Bajaj Auto and LG Electronics, will open for subscription on April 27. The issue will conclude on April 29.

The ₹65.12 crore initial share sale, with a price band of ₹130 to ₹135 per share, is solely a fresh issuance of 48.24 lakh shares, with no offer for sale (OFS) component.

The fresh issue proceeds will be utilised for funding capital expenditure requirement for setting up new showrooms and renovating existing ones, working capital needs and general corporate purposes.

"We believe that listing will enhance our corporate image and visibility of the brand name of our company. We also believe that our company will receive the benefits from listing of equity shares on the SME Platform of NSE. It will also provide liquidity to the existing shareholders and create a public trading market for the equity shares of our company," Amba Auto Sales and Services said in its red herring prospectus.

Amba Auto Sales and Services IPO Day 1: Subscription status

The subscription details will be updated post 10 am.

Amba Auto Sales and Services IPO: Lot size

A lot consists of 1,000 shares. Individual investors can apply for a minimum of two lots or 2,000 shares.

"With a focused strategy on network density, customer-centric operations, and integrated revenue streams across vehicle sales, after-sales services, and consumer electronics, we believe the IPO will position us well to capture growth opportunities in both the automobile and consumer durable segments," Pradeep Kumar Lohia, Chairman and Executive Director of Amba Auto Sales and Services Ltd, said.

Amba Auto Sales and Services IPO: Key dates

Bengaluru-based Amba Auto Sales and Services Ltd is engaged in automobile and consumer electronics retail.

It operates as an authorised dealer of Bajaj Auto and LG Electronics India under the brand name Amba Bajaj and Amba LG Best Shop, respectively.