Consumer durables manufacturer Amber Enterprises has picked Motilal Oswal and Jefferies as its bankers, looking to raise around Rs 1,500 crore to Rs 2,000 crore through a qualified institutional placement (QIP) offering, sources told Moneycontrol.
These bankers were appointed recently by Amber to start work on the proposed QIP, which has already been approved by the company’s shareholders, said one of the sources cited above said.
“The launch of the deal could happen within the next couple of months, but will be contingent on how the stock markets perform going ahead. The company has been meeting with institutional investors in the past couple of week.” The source said.
Moneycontrol first wrote about Amber’s plans to raise funds through a QIP on July 16. The plans include not just the QIP by Amber, the group’s parent entity, but also the IPO of its electronics manufacturing services business, ILJIN Electronics, which is likely to raise around Rs 1,200-1,500 crore, Moneycontrol reported.
Earlier this week, ILJIN raised Rs 1,200 crore from private equity funds ChrysCapital and InCred Growth Partners Fund I ahead of its IPO plans.
The fundraise by ILJIN demonstrated the institutional investor interest in India’s electronics manufacturing ecosystem, the source said.
Since the start of 2025, the Amber stock has gained around 6.5 percent and closed at Rs 7,872 on September 11.
On July 12, Amber Enterprises board passed an enabling resolution to raise up to Rs 2,500 crore through various means.
Funds to be raised from the QIP will be used for capital expenditure and investment in Amber’s subsidiaries as well as for strategic acquisitions.
Amber Enterprises and Jefferies declined to comment. An email sent to Motilal Oswal did not elicit a response.
Amber's financials
Amber is a major player in the room air conditioners industry through its consumer durables division. The company manufactures air conditioners for several multinational corporations and Indian durable goods companies. Its other businesses include electronics manufacturing services, through ILJIN, and it also has a third business vertical comprising railway sub-systems and defence.
For FY25, Amber Enterprises reported a 48 percent growth in revenue at Rs 9,973 crore.
Its earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 53 percent to Rs 796 crore, while profit was up 80 percent at Rs 251 crore.
Its consumer durables business revenue grew by 46 percent to Rs 7,329 crore, while the electronics division reported a 77 percent jump in revenue to Rs 2,194 crore.
The railway sub-systems and defence division witnessed a muted performance with revenue of Rs 450 crore, a decline of 6 percent year-over-year.
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