Amba Auto Sales & Services, an authorized dealer for Bajaj Auto and LG Electronics based in Bengaluru, has launched its initial public offering (IPO) with the goal of raising ₹65 crore. The IPO opened for bidding on April 27 and will remain open until April 29. The price band for the shares is set between ₹130 and ₹135 each, with a minimum investment requirement of ₹135,000 for retail investors applying for two lots of 1,000 shares each. As of 3:08 PM on the first day, the IPO was subscribed 10.8%, with retail subscriptions at 8% and non-institutional investors at 15%. No bids were received from qualified institutional buyers (QIBs) yet. The grey market premium (GMP) for the shares is currently nil, indicating that they are trading at par with the offer price. The funds raised will be used for capital expenditures, including setting up new stores and renovating existing ones, as well as for working capital and general corporate purposes. The allotment of shares is expected on April 30, with shares credited to demat accounts by May 4 and listing on the NSE SME platform scheduled for May 5.