Amba Auto Sales & Services SME
SME₹65.12 Cr issue
-0.37%
Listing gain over issue price
Issue size
₹65.12 Cr
1 lot at cut-off
₹1,35,000
Lot size
1,000shares
Allotment
30 Apr 2026
Listing
05 May 2026
Listing performance
Issue price
₹135
Listed at
₹134.50
Listing-day close
₹135.15
Latest price
₹85.60
Listing gain
-0.37%
Return since listing
-36.59%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
₹0
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 05 May 2026 | ₹0 | 0.00% | ₹0 | ₹135 | ₹0 |
| 04 May 2026 | ₹0 | 0.00% | ₹0 | ₹135 | ₹0 |
| 03 May 2026 | ₹0 | 0.00% | ₹0 | ₹135 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- Listing date
- 05 May 2026
- Face value
- ₹10 per share
- Issue price
- ₹135 per share
- Lot size
- 1,000 shares
- Total issue size
- ₹65.12 Cr
- Market cap at offer price
- ₹247 Cr
- Promoter holding
- 96.67% → 71.22% pre-issue → post-issue
- ISIN
- INE293601014
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Capital Square Advisors Pvt.Ltd.
- Registered office
- Sy.No.442/2A, 443/2B, 7, Hongasandra, Karnataka
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 2,42,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹135
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,35,000 |
| S-HNI (min) | 2 | 2,000 | ₹2,70,000 |
| S-HNI (max) | 7 | 7,000 | ₹9,45,000 |
| B-HNI (min) | 8 | 8,000 | ₹10,80,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
0
Anchor portion
₹0 Cr
at ₹135 per share
Valuation and performance
Valuation at offer price
₹135 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 5.76 | 8.81 |
| P/E (×) | 23.44 | 15.32 |
| Price to book (×) | 12.03 | — |
| Market cap | — | ₹247 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 69.09%
- ROCE
- 24.31%
- Debt / equity
- 3.65
- PAT margin
- 3.21%
- EBITDA margin
- 7.21%
- NAV per share
- ₹11.22
- Price to book
- 12.03
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Amba Auto Sales & Services SME
Amba Auto Sales and Services Limited, incorporated in 2005, is an authorized dealer of Bajaj Auto Limited for automotive retail (2-wheelers, 3-wheelers, CVs) and LG Electronics India Limited for consumer electronics (air conditioners, televisions, washing machines, refrigerators, small appliances). The company operates across the automotive retail value chain including sales of new vehicles, after-sales service and repairs with spare parts/lubricants/accessories sales, and facilitation of third-party financial and insurance products. It is concentrated in Bengaluru, Karnataka, with a network of showrooms and service centers. Revenue grew from Rs. 11,295.45 Lakhs (FY2023) to Rs. 20,374.02 Lakhs (Dec 2025), with Bajaj contributing 94.84% and LG 3.73% of revenue as of Dec 2025.
Company Analysis
from RHPAmba Auto Sales and Services Limited operates as an authorized dealer of Bajaj Auto and LG Electronics, providing automotive retail (vehicles, service, spare parts) and consumer electronics distribution across Karnataka.
Amba Auto Sales and Services Limited, incorporated in 2005, is an authorized dealer of Bajaj Auto Limited for automotive retail (2-wheelers, 3-wheelers, CVs) and LG Electronics India Limited for consumer electronics (air conditioners, televisions, washing machines, refrigerators, small appliances). The company operates across the automotive retail value chain including sales of new vehicles, after-sales service and repairs with spare parts/lubricants/accessories sales, and facilitation of third-party financial and insurance products. It is concentrated in Bengaluru, Karnataka, with a network of showrooms and service centers. Revenue grew from Rs. 11,295.45 Lakhs (FY2023) to Rs. 20,374.02 Lakhs (Dec 2025), with Bajaj contributing 94.84% and LG 3.73% of revenue as of Dec 2025.
Automotive retail and dealershipConsumer electronics retail and distributionVehicle after-sales service and repairSpare parts and accessories distribution
Objects of the Issue
- Funding capital expenditure for setting up new showrooms and renovating existing ones 631.73 (Rs. in Lakhs) p.24
- To meet the working capital requirements of the Company 3940.67 (Rs. in Lakhs) p.24
- General Corporate Purpose p.24
- Funding capital expenditure for setting up new showrooms and renovating existing ones Rs. 631.73 Lakhs p.122
- To meet the working capital requirements of the Company Rs. 4,300.00 Lakhs p.122
- General Corporate Purpose p.123
- Funding capital expenditure proposed to be incurred towards setting up of seven new showrooms in Bangalore Rs. 557.34 lakhs (estimated total capex for 7 showrooms) p.139
- Funding capital expenditure for renovation of two existing showrooms Rs. 74.39 lakhs p.141
- Funding working capital requirements Rs. 4,300.00 lakhs (for FY 2026-27 from IPO proceeds; FY 2025-26: Rs. 1,574.89 lakhs from internal accruals/borrowings) p.142
- General corporate purposes Remaining net proceeds after specific allocations, up to Rs. 1,000 lakhs or 15% of amount raised, whichever is lower p.148
- Not explicitly stated in this section of the document
Issue Structure
- Total Issue
- Up to 48,24,000 Equity Shares aggregating to Rs. [●] Lakhs
- Fresh Issue
- Up to 48,24,000 Equity Shares of face value of Rs. 10/- each aggregating to Rs. [●] Lakhs
- Offer for Sale
- Not Applicable – Entire issue constitutes fresh issue of equity shares
- Lot Size
- Bid Lot: 2000 Equity Shares of face value of Rs. 10/- each and in multiples of 1000 Equity Shares thereafter
- Face Value
- Rs. 10/- per Equity Share
Business Model
Revenue derived from: (1) Sales of Bajaj 2-wheelers (31.79% of revenue), 3-wheelers (50.71%), spare parts and accessories (4.99%), and service/repairs (7.35%); (2) LG Electronics sales (3.73%); (3) Insurance facilitation (1.07%); (4) Other operative revenue from incentives (0.37%). Company earns commissions on insurance and finance products facilitated for customers.
Business Segments
Sale of Bajaj 2-wheeler vehicles
Sale of Bajaj 3-wheeler vehicles
Sale of spare parts and accessories for Bajaj vehicles
After-sales service and repair of Bajaj vehicles
Retail and distribution of LG consumer electronics including air conditioners, televisions, washing machines, refrigerators and small appliances
Facilitation of insurance product sales
Dealership of two-wheelers and three-wheelers manufactured by Bajaj Auto Limited, including vehicle sales financed through banks and NBFCs, aftermarket vehicle servicing and repair, and spare parts and accessories distribution
Dealership and distribution of consumer electronics and home appliances manufactured by LG Electronics India Private Limited
Retail sales and after-sales service of motorcycles and scooters including KTM brand motorcycles and CHETEK scooters
Retail sales and after-sales service of three-wheeler vehicles (auto-rickshaws, passenger, and cargo variants)
Retail sales of LG Electronics household products and appliances
Sale of spare parts and accessories for vehicles and electronics
After-sales service including maintenance, repairs, and technical support for vehicles and electronics
Sale of new two-wheelers including models such as Pulsar, Avenger, Dominar, Platina, and Freedom motorcycles manufactured by Bajaj Auto.
Sale of new three-wheelers and commercial vehicles including Maxima C, Maxima X Wide, Maxima XL Cargo ETEC 9.0, RE, E-TEC, Gogo, and Qute.
Sale of genuine spare parts, lubricants, and accessories for Bajaj vehicles.
After-sales service, scheduled and unscheduled maintenance, and repairs for Bajaj two-wheelers and three-wheelers.
Retail of consumer electronics and home appliances including televisions, washing machines, air conditioners, refrigerators, and microwave ovens from LG Electronics through LG Best Shop outlets.
Facilitation of third-party insurance products for vehicles sold through commission-based arrangements with insurance companies.
Sale of Bajaj two-wheelers in petrol, CNG, and electric variants
Sale of Bajaj three-wheelers in petrol, CNG, and electric variants
Sales of spare parts and accessories for Bajaj vehicles
Repair, maintenance, and annual maintenance services for Bajaj vehicles
Sales of LG Electronics products
Sales of new Bajaj Auto two-wheelers, three-wheelers, motorcycles and KTM two-wheelers
Sales of spare parts, lubricants and accessories
Sales of LG Electronics products including air conditioners, televisions, washing machines, refrigerators and small appliances
After-sales service and repairs of vehicles
Facilitation of third-party insurance products sales
SWOT Analysis
Strengths
- • Established dealer network for major OEM brands(p.24)
- • Diversified revenue streams across automotive and consumer electronics(p.24)
- • Strong recent revenue and profitability growth(p.26)
- • Improving operational efficiency and returns(p.26)
- • Established presence across multiple business verticals with growing showroom network(p.70)
- • Revenue growth with improving profitability trajectory(p.70)
- • Strong insurance coverage on assets provides operational protection(p.67)
- • Established dealership network with OEM authorization(p.153)
- • Quality after-sales service capabilities(p.153)
- • High customer retention and consistency(p.153)
- • Strong financial performance and profitability(p.157)
- • Founder-led company with experienced management(p.153)
- • Experienced promoters and management with 20+ year relationship with Bajaj Auto(p.229)
- • Diversified product portfolio across multiple vehicle segments(p.219)
- • Strong revenue and profitability growth trajectory(p.212)
- • Strategically located logistics infrastructure with adequate inventory management(p.229)
- • Comprehensive after-sales service network across regions(p.224)
- • Long-term relationship with LG Electronics for consumer electronics segment(p.233)
- • Multiple awards and recognition from OEMs demonstrating operational excellence(p.263)
- • Experienced promoter team with 20+ years in automobile industry(p.270)
- • Strong revenue growth trajectory over three financial years(p.270)
- • Established dealership relationships with major OEMs (Bajaj Auto, LG Electronics)(p.306)
- • Board comprises three independent women directors enhancing governance(p.274)
- • Diversified revenue streams from vehicles, spare parts, and maintenance services(p.306)
- • Established dealership operations with Bajaj Auto and LG Electronics(p.340)
- • Diversified revenue streams across vehicle sales, after-sales service, and consumer electronics(p.340)
- • Strong EBITDA margin expansion to 10.97% in 9M FY2026 from 7.21% in FY2025(p.340)
- • Significant profitability improvement with PAT margin rising from 1.37% to 5.94%(p.340)
- • Improved gross margins from new and higher-margin product variants(p.346)
- • Positive ROAE of 57.61% in 9M FY2026 demonstrating strong returns on equity(p.340)
- • Rapid revenue growth of 87% YoY in FY2024 and 14.74% in FY2025(p.345)
Weaknesses
- • Significantly high debt-equity ratio relative to industry(p.35)
- • History of negative cash flows from operations(p.36)
- • 100% revenue concentration in Karnataka, primarily Bengaluru(p.37)
- • Heavy dependence on two OEM suppliers (94.84% of revenue from Bajaj)(p.35)
- • Non-exclusive dealership arrangement with OEMs(p.39)
- • Historical delays in regulatory filings and compliance(p.41)
- • Delays in execution of gift deeds for share transfers(p.43)
- • Unregistered trademark and objected copyright(p.56)
- • Significant working capital requirements with deteriorating cash conversion cycle(p.70)
- • High leverage with substantial debt obligations primarily from single lender(p.65)
- • Promoter-dependent business with key personnel holding personal guarantees on loans(p.66)
- • Trade receivables and inventory disproportionately outpacing revenue growth creating liquidity stress(p.65)
- • Concentration risk with business dependent on two principal manufacturers(p.70)
- • Limited pricing power with aftermarket operations governed by OEM-dictated margins(p.71)
- • No dividend history with continued restriction on dividend payments due to financing covenants(p.69)
- • Director experience documentation gaps creating regulatory vulnerability(p.73)
- • High financial leverage and debt burden(p.156)
- • Dependence on limited geographic footprint(p.139)
- • Concentration of existing showrooms in Bangalore(p.141)
- • Reliance on OEM approvals and norms for operations(p.139)
- • Limited working capital and inventory management(p.146)
- • High dependence on Bajaj Auto as primary vehicle supplier(p.218)
- • Limited geographic diversification - operations restricted to Bengaluru(p.229)
- • Working capital intensive business model(p.240)
- • Moderate adoption of digital and CRM tools compared to global standards(p.240)
- • Limited product diversification - focused only on automobiles and consumer electronics(p.240)
- • Dependence on dealer agreements with OEMs subject to termination(p.228)
- • High debt-to-equity ratio of 2.13 at end of FY2026(p.330)
- • Significant dependence on short-term borrowings from banks (Rs. 4,204.21 lakhs)(p.313)
- • Concentration of shareholding among three promoters (96.62% as of Dec 31, 2025)(p.312)
- • Reliance on limited geographic presence (Bengaluru city only)(p.306)
- • Contingent liabilities including income tax demands and GST disputes(p.325)
- • Negative operating cash flow across three consecutive financial years despite profitability(p.349)
- • Significantly elevated inventory levels requiring higher capital deployment(p.349)
- • Significantly elevated trade receivables (163% increase) outpacing 14.74% revenue growth(p.345)
- • High financial leverage with Total Debt/Equity ratio of 2.13(p.355)
- • Outstanding litigations involving promoters with motor accident claims(p.359)
- • Significant dependence on OEM partner Bajaj Auto Limited for supply of products(p.354)
- • Outstanding income tax demands and GST assessments across multiple years(p.363)
- • Mandatory market making requirement limits liquidity and exit flexibility(p.399)
- • SME Exchange listing creates potential migration constraints and compliance burden(p.398)
Opportunities
- • Global automotive market projected to exceed 100 million units by 2031(p.24)
- • Strong growth in global consumer electronics market(p.24)
- • Expansion into new showrooms and service centers planned(p.25)
- • Working capital investment planned for business growth(p.25)
- • Emerging markets in Asia-Pacific expected to drive volume growth(p.24)
- • Strategic expansion of showroom network in Bangalore metropolitan area(p.124)
- • Market growth from expanding vehicle ownership driven by rising incomes and improved infrastructure(p.124)
- • Growth in electric and CNG vehicle segments representing emerging consumer preferences(p.70)
- • Expansion through seven new showrooms planned(p.131)
- • Renovation and upgrade of existing showrooms(p.141)
- • Growth in Indian two-wheeler market(p.185)
- • Strong three-wheeler market growth(p.185)
- • Rising consumer electronics demand in India(p.199)
- • India's strong macroeconomic growth trajectory(p.170)
- • Government support for automobile and EV sector(p.183)
- • Growth in Tier II and Tier III markets(p.188)
- • Rapid growth in EV market with government support for 30% EV penetration by 2030(p.204)
- • Three-wheeler market projected to grow from 6.91 lakh units to 9.35 lakh units by 2033(p.219)
- • Consumer electronics market expected to grow at 17.44% CAGR from FY 2024 to FY 2033(p.219)
- • Expansion opportunity in Tier-2/3 cities with growing demand(p.240)
- • PLI schemes and government incentives supporting EV component localization(p.204)
- • Growing digital transformation adoption through CRM and online booking systems(p.240)
- • Growing electric vehicle market segment (FAME subsidy receivable of Rs. 160.35 lakhs)(p.320)
- • Expansion of dealership operations and showroom network beyond current Bengaluru presence(p.306)
- • Leverage strong working capital management for business growth(p.270)
- • Revenue growth from LG Electronics sales segment (Rs. 759.92 lakhs in 9M FY2026)(p.321)
- • Expansion of three-wheeler business with high-margin electric variants(p.346)
- • New product launches driving incremental revenue and margins(p.350)
- • Growth opportunity through expansion of service outlets and showrooms(p.350)
- • Margin expansion opportunity from discontinuation of low-margin products(p.346)
- • Growing automotive financing market with bank and NBFC partnerships(p.345)
- • After-sales service and spare parts business with expanding vehicle base(p.350)
- • Potential migration to main board upon meeting prescribed criteria(p.398)
Threats
- • OEMs can terminate dealership agreements with minimal notice(p.37)
- • Sensitivity of automotive industry to economic conditions(p.37)
- • Intense competition in automotive and electronics dealership(p.39)
- • Risk from online sales channels and direct OEM sales(p.39)
- • Dependence on OEM incentives affecting profit margins(p.40)
- • Regional economic slowdown or social unrest in Karnataka(p.37)
- • Rapid technological innovation in EV segment(p.37)
- • Stringent and evolving environmental and emission regulations(p.54)
- • Complex and evolving regulatory framework(p.53)
- • Rising wage costs and potential labor unionization(p.50)
- • Fluctuations in working capital financing and extended collection cycles from banks and NBFCs(p.65)
- • Demand suppression from disruptive mobility trends and shared transportation preferences(p.75)
- • Regulatory burden from stricter emission and safety standards increasing compliance costs(p.75)
- • Macroeconomic slowdown and inflation eroding consumer purchasing power and margins(p.77)
- • Wage inflation in India reducing competitiveness and profitability(p.77)
- • Global supply chain disruptions affecting OEM production and inventory availability(p.76)
- • Competitive pressure from low-cost manufacturers in Asia affecting domestic pricing and volumes(p.75)
- • Loan recall risk from demand-repayable borrowings threatening liquidity(p.65)
- • Invocation risk of bank guarantees issued to OEMs affecting working capital(p.74)
- • OEM competition and market consolidation(p.189)
- • Rapid electrification disrupting traditional vehicle sales(p.191)
- • Economic slowdown and tightened financing conditions(p.166)
- • Competition from digital platforms and direct-to-consumer channels(p.182)
- • Regulatory compliance and OEM norm requirements(p.141)
- • Geopolitical risks and supply chain disruptions(p.179)
- • Inflation and rising operational costs(p.144)
- • Competition from other authorized Bajaj dealerships and multi-brand service centers(p.240)
- • Supply chain disruptions affecting vehicle and component availability(p.202)
- • Rising input costs and commodity price volatility(p.202)
- • Regulatory compliance costs from evolving emission and safety standards(p.204)
- • Risk of negative service pricing perception driving customers to lower-cost alternatives(p.240)
- • Global supply chain disruptions and semiconductor shortages impacting production(p.204)
- • Risk of OEM dealership agreement termination or non-renewal(p.228)
- • Automotive industry cyclicality and market competition risks(p.306)
- • Dependence on OEM (Bajaj Auto) for majority of revenue and business continuance(p.321)
- • Fluctuating interest rates and rising cost of finance (interest expense of Rs. 555.11 lakhs in 9M FY2026)(p.322)
- • Regulatory compliance risks including GST, TDS, and income tax demands(p.325)
- • Working capital volatility with significant inventory holdings (Rs. 4,891.99 lakhs at Dec 31, 2025)(p.319)
- • Heightened market competition and subdued market conditions affecting sales(p.345)
- • Extended collection timelines from financing institutions affecting cash flow(p.345)
- • Dependence on dealership agreements with Bajaj Auto and LG Electronics that can be terminated(p.354)
- • Exposure to regulatory changes affecting automotive industry and financing(p.342)
- • Business subject to seasonal variations and economic cycles(p.354)
- • Exposure to raw material costs, labour costs and input price volatility(p.342)
- • Lower-than-expected sales growth in consumer electronics leading to elevated inventory(p.350)
- • Regulatory changes in IPO procedures and timelines create uncertainty(p.396)
- • Regulatory delays in bid/issue timeline approvals impact listing schedule(p.396)
- • Discretionary stock exchange trading decisions impact post-issue liquidity(p.396)
- • Regulatory restrictions on foreign investor participation limit capital base(p.449)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Pradeep Kumar Lohia | Promoter | 30.00% | — |
| Mr. Rakesh Kumar Lohia | Promoter | 33.31% | — |
| Mr. Vikash Kumar Lohia | Promoter | 33.31% | — |
| Pradeep Kumar Lohia | Promoter | 30.00% | — |
| Rakesh Kumar Lohia | Promoter | 33.31% | — |
| Vikash Kumar Lohia | Promoter | 33.31% | — |
| Rachna Lohia | Promoter Group | 0.01% | — |
| Shilpy Lohia | Promoter Group | 0.01% | — |
| Harsh Kumar Lohia | Promoter Group | 0.01% | — |
| Sakshi Lohia | Promoter Group | 0.01% | — |
| Prakash Kumar Lohia | Promoter | — | — |
| Vikash Kumar Lohia | Promoter | — | — |
| Rakesh Kumar Lohia | Promoter | — | — |
| Pradeep Kumar Lohia | Promoter | — | — |
| Rakesh Kumar Lohia | Promoter | — | — |
| Vikash Kumar Lohia | Promoter | — | — |
| Mr. Pradeep Kumar Lohia | Promoter | 30.00% | — |
| Mr. Rakesh Kumar Lohia | Promoter | 33.31% | — |
| Mr. Vikash Kumar Lohia | Promoter | 33.31% | — |
| Pradeep Kumar Lohia | Promoter | — | — |
| Rakesh Kumar Lohia | Promoter | — | — |
| Vikash Kumar Lohia | Promoter | — | — |
Leadership
Pradeep Kumar Lohia · Chairman and Executive Director
Rakesh Kumar Lohia · Managing Director
Vikash Kumar Lohia · Executive Director and Chief Financial Officer
Chetan Kumar Hiralal Solanki · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.