Amber Enterprises Board To Consider Raising Rs 2,500 Crore
This is the second time the maker of room air conditioners is raising funds after its listing seven years ago.
Amber Enterprises India Ltd. board of directors will meet on Saturday to consider and approve a resolution for raising up to Rs 2,500 crore.
However, the fundraise will be subject to approval from shareholders in the ensuing 35th annual general meeting of the company, according to an exchange filing on Wednesday.
This is the second time the maker of room air conditioners is raising funds after its listing seven years ago. In 2020, the company raised Rs 400 crore through qualified institutional placement.
The fundraise was for capital expenditure required for the long-term growth of its businesses; extend loans to and invest in its subsidiaries for their long-term and short-term business purposes, repay debt, and make strategic acquisitions or joint ventures.
In June, Amber Enterprises was included in futures and options.
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The air conditioner maker had also received a vote of confidence from brokerages CLSA and Jefferies, with both highlighting robust fourth-quarter performance, expanding margins, and strong potential in non-room air conditioner segments.
CLSA has upgraded the stock to ‘outperform’ from ‘hold’, raising the target price to Rs 7,275 from Rs 7,000. Jefferies maintained its ‘buy’ rating, but slightly lowered the target price to Rs 8,600 from Rs 8,845, citing minor adjustments to fiscal 2026–2027 EPS estimates due to the impact of unseasonal rains in April–May 2025.
The business update was shared after market hours. The stock settled 2.41% higher at Rs 7,691.50 apiece on the NSE, compared to a 0.18% decline in the benchmark Nifty 50. The shares have risen 68.38% over the past 12 months and 4.11% year-to-date.
Out of 29 analysts tracking the stock, 23 have a 'buy' rating, five suggest a 'hold,' and one recommends a 'sell.' The average of 12-month analysts' price target of Rs 7,629.59 implies a potential downside of 0.8% from its previous closing.
