The shares of Amba Auto Sales and Services are set to make their stock market debut on Tuesday with grey market signals pointing to a muted start, as the SME issue is commanding a zero premium ahead of listing. A GMP indicates that the stock is currently expected to list close to its issue price of Rs 135, suggesting limited expectations of immediate listing gains.

The Rs 65.1 crore IPO, which opened for subscription between April 27 and April 29, will list on the NSE SME platform on May 5. The issue was priced at Rs 135 per share and saw an overall subscription of 1.19 times, driven mainly by institutional and non-institutional demand, while retail participation remained relatively subdued.

Qualified institutional buyers subscribed 1.75 times their allocated portion, while the non-institutional investor segment was subscribed 1.47 times. Retail investors subscribed only 0.70 times, indicating cautious participation from smaller investors despite the company’s improving financial performance.

Amba Auto’s IPO was entirely a fresh issue of 48.24 lakh shares, helping the Bengaluru-based company raise Rs 65.12 crore.

Founded in 2005, Amba Auto operates as an authorised dealer of Bajaj Auto Ltd. and LG Electronics India Pvt. Ltd. under the brands “Amba Bajaj” and “Amba LG Best Shop.” Its business spans both automobiles and consumer electronics, selling motorcycles, scooters including Chetak electric scooters, KTM sports bikes, three-wheelers, televisions, refrigerators, washing machines and other home appliances.

The company currently operates 29 showrooms and service centres across Bengaluru and has built an integrated retail and after-sales ecosystem in the city As of February 2026, Amba Auto employed 254 permanent employees, reflecting a significant expansion in operating scale.

Financially, the company has shown sharp improvement over the past two years. For the nine months ended December 2025, Amba Auto reported total income of Rs 203.8 crore and net profit of Rs 12.1 crore. For FY25, the company had posted revenue of Rs 242.5 crore and net profit of Rs 7.8 crore, compared with profit of Rs 2.9 crore in FY24.The company plans to use the IPO proceeds primarily for working capital, expansion of new showrooms and renovation of existing outlets. Of the total proceeds, around Rs 43 crore has been earmarked for working capital requirements, while Rs 6.3 crore will go toward capital expenditure for expansion.