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The sources further said that Amber Enterprises might float an IPO of the electronics division after the demerger is complete.
Bankers for the demerger and subsequent IPO of the electronics division have already been appointed, according to the sources.
For financial year 2024, the Electronics division formed 20% of the total revenue of Amber Enterprises.
In response, the company issued a clarification to the exchanges on Tuesday evening, stating that it has multiple subsidiaries and it evaluates various strategic opportunities from time to time for their growth and expansion in the ordinary course of business.
“As on date, there is no such event that triggers the disclosure obligations. The company will make appropriate disclosures regarding material events in the future as required,” the statement said.
On the valuation front, 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 trades at 99 times earnings.
Shares of Amber Enterprises gained as much as 5.5% post this newsbreak to ₹7,279 and has now gained over 130%. Dixon Tech shares too have nearly tripled in value so far this year.
(Edited by : Hormaz Fatakia)
First Published: Dec 24, 2024 10:50 AM IST
