Amber Enterprises Arm IL JIN Electronics Files DRHP for ₹2,500 Crore IPO
Shares of Amber Enterprises India are in focus after its material subsidiary, IL JIN Electronics (India) Limited, filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹2,500 crore through an initial public offering (IPO). The draft documents were formally filed on November 7 with SEBI, BSE, and the National Stock Exchange of India (NSE).
The proposed issue is structured entirely as a fresh issuance of equity shares, with no offer-for-sale (OFS) component from existing shareholders. Because the offering does not include an OFS, 100% of the net proceeds will flow directly to the company.
Objectives of the Issue
IL JIN Electronics intends to deploy the net proceeds across capital expenditure and balance-sheet deleveraging:
- Repayment or prepayment, in full or in part, of certain outstanding borrowings and accrued interest availed by the company and its subsidiaries, including Ascent Circuits and Shogini Technoarts.
- Funding capital expenditure for purchasing plant, machinery, and equipment across its production facilities.
- General corporate purposes.
Operational Footprint and Vertical Integration
IL JIN Electronics operates as a vertically integrated electronics design and manufacturing services provider across four primary business segments: bare printed circuit board (PCB) manufacturing, electronics manufacturing services (EMS), power electronics, and industrial automation.
The company manages 11 operating manufacturing facilities, including 10 units in India and one in Israel. Its domestic presence spans key industrial belts: Noida and Greater Noida in Uttar Pradesh, Pune in Maharashtra, Hosur and Chennai in Tamil Nadu, and Bengaluru in Karnataka. To support surging demand across electronics supply chains, the firm also has six additional manufacturing facilities currently under construction.
Financial Trajectory
According to the DRHP, IL JIN Electronics has expanded its scale significantly over the past two financial years:
- Revenue from operations rose to ₹3,268.47 crore in FY26, up from ₹1,240.41 crore reported in FY24.
- Earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged to ₹321.07 crore in FY26 compared to ₹71.42 crore in FY24.
Strategic Significance for Parent Amber Enterprises
Parent company Amber Enterprises is a dominant player in India's room air conditioner original equipment manufacturing (OEM) and original design manufacturing (ODM) space. Over recent years, Amber has diversified aggressively into electronics hardware, PCBs, and railway subsystems.
A standalone listing of IL JIN Electronics will create an independent capital-raising platform for the electronics business and provide public equity investors with direct exposure to India's burgeoning electronics manufacturing and import-substitution ecosystem.
The book-running lead managers appointed to manage the public issue are Motilal Oswal Investment Advisors, Axis Capital, and Jefferies India, while KFin Technologies will serve as the registrar.
