Shares of Amber Enterprises Ltd hit all-time high on December 24 as CNBC-TV18 reported citing sources that the company is looking to demerge its electronics division.
Amber Enterprises might float an IPO of the electronics division after the demerger is completed, sources further told CNBC-TV18.
Bankers for the demerger and IPO of the electronics division have been appointed, the channel reported.
For financial year 2024, the electronics division formed 20% of the total revenue of Amber Enterprises.
Amber Enterprises told stock exchanges that "there is no such event".
"We wish to apprise the exchange that the Company has several subsidiaries, and it evaluates various strategic opportunities from time to time for their growth and expansion in the ordinary course of business including but not limited to various fund-raising activities. As on date, there is no such event that triggers the disclosure obligations under Regulation 30 of SEBI LODR Regulations. The Company will make appropriate disclosures regarding material events in the future as required under the SEBI LODR Regulations," said the company.
Valuation-wise, shares of Amber Enterprises are trading at a financial year 2026 price-to-earnings multiple of 54 times, compared to its closest peer Dixon Technologies, which is trading at price-to-earnings multiple of 54 times.
On December 24, Amber Enterprises' shares had hit all-time high of Rs 7,279 apiece.
At 11 am, the shares were trading nearly 2% higher at Rs 7,029 apiece. The market capitalisation of the stock is Rs 2,380 crore. Its 52-week low is Rs 2,992.5 and 52-week high is Rs 7,279.
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