Amba Auto Sales and Services is making its stock market debut today on the NSE SME platform, with shares priced at ₹135 each as part of a ₹65.1 crore (approximately $7.8 million USD) IPO. Grey market signals indicate a muted start, with expectations of listing gains at zero premium. The IPO, which opened for subscription from April 27 to April 29, was oversubscribed by 1.19 times, primarily due to strong institutional demand, where qualified institutional buyers subscribed 1.75 times their portion. However, retail investor participation was low at only 0.70 times. Founded in 2005, Amba Auto operates as an authorized dealer for Bajaj Auto Ltd. and LG Electronics India Pvt. Ltd., with a diverse product range including motorcycles, electric scooters, and home appliances. The company plans to utilize IPO proceeds mainly for working capital and expansion efforts, with ₹43 crore allocated for working capital needs and ₹6.3 crore for capital expenditure.