IL JIN Electronics Files Draft Papers with SEBI for ₹2,500-Crore IPO

IL JIN Electronics (India) Ltd 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 is entirely a fresh issue of equity shares, with no offer for sale (OFS) component involved.

The company, which operates as a subsidiary of Amber Enterprises India Ltd—a major player in India's room air-conditioner OEM and ODM industry—plans to deploy the net proceeds toward specific financial and operational objectives. A portion of the funds will be utilized to repay or prepay certain outstanding borrowings, including accrued interest, availed by the company and its subsidiaries, Ascent Circuits and Shogini Technoarts. Additionally, proceeds will be allocated for the purchase of plant, machinery, and equipment for its manufacturing units, alongside general corporate purposes.

IL JIN Electronics functions as a vertically integrated, technology-driven electronics design and manufacturing company. Its business operations are spread across four primary verticals: electronics manufacturing services (EMS), bare printed circuit board (PCB) manufacturing, power electronics, and industrial automation.

The manufacturing footprint of the firm includes 11 operational facilities, comprising 10 locations in India and one in Israel. Its domestic units are situated in Noida and Greater Noida in Uttar Pradesh, Pune in Maharashtra, Chennai and Hosur in Tamil Nadu, and Bengaluru in Karnataka. Furthermore, the company has six additional manufacturing facilities currently under construction to support its future capacity expansion plans.

Financially, IL JIN Electronics reported a rise in revenue from operations to ₹3,268.47 crore, up from ₹1,240.41 crore. Its EBITDA grew to ₹321.07 crore, compared to ₹71.42 crore.

To manage the public issue, the company has appointed Motilal Oswal Investment Advisors, Axis Capital, and Jefferies India as the book-running lead managers. KFin Technologies has been designated as the registrar to the IPO.

"The decision by IL JIN Electronics to launch a ₹2,500-crore IPO entirely through a fresh issue highlights the capital requirements needed to scale manufacturing capabilities in India's electronics sector. By directing funds toward debt reduction and machinery procurement, the company is positioning itself to strengthen its balance sheet and operational capacity across its EMS and PCB verticals. Monitoring how efficiently these expansion plans and ongoing facility constructions translate into sustained financial performance will be crucial for market observers." — Dr. Shishir Gupta, Founder & CEO, StartupLanes