ADV Partners on September 11, 2020 sold a 10.46% stake in Amber Enterprises India Limited (BSE:540902) for INR 6 billion through open market transactions. The secondary sale of shares by the PE firm and the promoter follows the qualified institutional placement (QIP) offering launched, through which the company has raised INR 4 billion. Amber plans to use the proceeds from the QIP for repayment of debt, funding capital expenditure, working capital requirements and for making strategic acquisitions or joint ventures.