Amber Enterprises Arm IL JIN Electronics Files DRHP With SEBI for ₹2,500 Crore IPO
IL JIN Electronics (India) Limited, a material subsidiary of contract manufacturing major Amber Enterprises India Limited, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise ₹2,500 crore through an initial public offering (IPO).
According to the draft red herring prospectus (DRHP) dated November 6, the proposed public issue consists entirely of a fresh issue of equity shares, with no offer for sale (OFS) component from existing shareholders.
Objectives of the Issue
The proceeds from the fresh capital raise are slated to support balance sheet de-leveraging and manufacturing expansion. As outlined in the DRHP, the net proceeds will be deployed for:
- Repaying or prepaying certain outstanding borrowings, including accrued interest, availed by IL JIN Electronics and its operating subsidiaries, Ascent Circuits and Shogini Technoarts.
- Purchasing plant, machinery, and equipment for its manufacturing units.
- Funding general corporate purposes.
Business Overview and Manufacturing Footprint
IL JIN Electronics operates as a vertically integrated, technology-driven electronics design and manufacturing company. The enterprise serves domestic and global clients across four core business verticals:
- Electronics manufacturing services (EMS)
- Bare printed circuit board (PCB) manufacturing
- Power electronics
- Industrial automation
The company operates 11 manufacturing facilities, comprising 10 sites across India and one international facility located in Israel. Its domestic manufacturing infrastructure spans industrial hubs including Noida and Greater Noida in Uttar Pradesh, Pune in Maharashtra, as well as Chennai and Hosur in Tamil Nadu.
Parent firm Amber Enterprises India Limited, a dominant player in India's room air conditioner original equipment manufacturer (OEM) and original design manufacturer (ODM) ecosystem, has steadily increased its footprint across the broader electronics value chain. Earlier in the year, IL JIN Electronics completed its corporate conversion from a private limited company into a public limited entity ahead of the planned public listing.
