Amber Enterprises closes ₹1,000 crore QIP — Check which funds have been issued shares

Amber Enterprises Ltd. announced the closure of its fund raising exercise on Monday, September 22, through the Qualified Institutional Placement (QIP), through which it has managed to raise ₹1,000 crore.

In an exchange filing, Amber Enterprises highlighted that the company's board has approved the issue and allotment of 12,57,861 shares of the company to eligible buyers.

Shares will be issued to buyers at a price of ₹7,950 apiece, which is a 4.2% discount to Monday's closing price for Amber.

A combination of domestic and foreign funds have been issued more than 5% shares of the total as part of the QIP.

Fund	% Of QIP Size
Nomura India Investment Fund	15
Invesco MF (Various Schemes)	15
HDFC Life Insurance	12.5
Allianz Global Investors Fund	6.5
HDFC Mutual Fund	5

None of the funds who have been issued shares as part of the QIP exercise feature in the list of public shareholders with more than 1% stake in the company at the end of the June quarter.

After the issuance of shares, the paid-up equity share capital of the company will increase from ₹33.89 crore comprising of 3.38 crore shares of ₹10 each, to ₹35.14 crore, comprising of 3.51 crore share of ₹10 each.

Amber Enterprises initially had plans to raise ₹1,200 crore through the QIP issue.

Promoters of Amber Enterprises had a 39.65% stake in the company at the end of the June quarter.

Shares of Amber Enterprises ended little changed on Monday ₹8,300. The stock trades close to its record high levels, having gained 13% in the last one month, thereby also turning positive on a year-to-date basis.